Turkcell Iletisim Hizmetleri A.S. Reports Results for the Third Quarter of 2008Solid Results: Strong Execution, Robust Usage, Cash Generation Ability

ISTANBUL, Turkey, November 5 /PRNewswire-FirstCall/ -- Turkcell , , the leading provider of mobile communications services in Turkey, today announced results for the third quarter ended September 30, 2008. All financial results in this press release are unaudited, prepared in accordance with International Financial Reporting Standards ("IFRS") and expressed in US$ unless otherwise stated.

Please note that all financial data is consolidated and comprises Turkcell Iletisim Hizmetleri A.S., (the "Company", or "Turkcell") and its subsidiaries and its associates (together referred to as the "Group"). All non-financial data is unconsolidated and comprises Turkcell only. The terms "we", "us", and "our" in this press release refer only to the Company, except in discussions of financial data, where such terms refer to the Group, and where context otherwise requires.

Highlights for the Third Quarter 2008 - Revenue increased by 19.3% to US$2,055.9 million compared to Q3 2007 (US$1,722.8 million). - EBITDA* increased by 8.6% to US$837.8 million compared to Q3 2007 (US$771.5 million). - Net income increased by 50.5% to US$603.8 million compared to Q3 2007 (US$401.2 million) - Recorded highest net additions with 972,500 subscribers in 2008. Subscriber base grew by 4.3% to 36.3 million (34.8 million) as of September 30, 2008. - Recorded a high level of blended minutes of usage ("MoU") per subscriber at 109.2 minutes (83.0 minutes) with a 31.6% year on year increase. - Average revenue per user ("ARPU") increased 13.1% to US$17.3 compared to Q3 2007 (US$15.3). - Astelit increased its revenues by 68.2% to US$127.8 million compared to Q3 2007 (US$76.0 million) and further improved its EBITDA margin.

*EBITDA is a non-GAAP financial measure. See pages 12-13 for the reconciliation of EBITDA to net cash from operating activities.

- In this press release, a year on year comparison of our key indicators is provided and figures in brackets following the operational and financial results for the third quarter 2008 refer to the same item in the third quarter of 2007. For further details, please refer to our consolidated financial statements and notes as at and for the quarter ended September 30, 2008 which can be accessed via our web site in the investor relations section (http://www.turkcell.com.tr/).

Comments from the CEO, Sureyya Ciliv

"We are happy about our strong financial and operational results in a very challenging global environment. In the third quarter of 2008, we increased our consolidated revenue by 19.3% to US$2.1 billion, recorded US$838 million EBITDA, and increased net income by 50.5% to US$604 million.

In Turkey, we are pleased with the momentum we have gained prior to important milestones in our market. During the quarter, our subscriber base grew to 36.3 million with net additions of 972,500 while minutes of usage increased by 31.6% compared to last year, due to our strong value propositions. We are well positioned for the new era with Mobile Number Portability starting on November 9, and 3G license tender expected on November 29, 2008.

On the international front, we are pleased with Astelit's performance in Ukraine as well as Fintur's contribution to our bottom line. In Belarus, we have started network roll out and rebranding activities.

On the potential macroeconomic volatilities, thanks to our strong cash position and balance sheet we feel we are well prepared to manage such challenges. We will remain very cautious monitoring developments and possible impacts.

In summary, we are happy about our solid performance in a challenging operating environment and I thank again all Turkcell Group employees and our business partners for their contributions."

Overview of the Third Quarter

Competition was active during the quarter with previous offers strengthened and minute packages and new tariffs launched. The advantageous offers contributed to market growth where we believe Turkcell remains the preferred brand in a comparatively slow growing market. We believe the restructuring of our sales channel also highly contributed to our results.

We continued to use effective pricing as a tool to balance the loyalty of our subscribers and our revenue generation capability. We have offered what we believe to be the most advantageous pricing for the largest community. Since early July, we effectively communicated our new offers as part of a new communication theme focused on reinforcing our advantages. We have seen positive outcomes from our actions including an improved price perception of Turkcell in the market.

During the third quarter, while reinforcing postpaid packages, we provided what we believe to be the best on-net offer for prepaid subscribers with refill requirements. Our unique homezone offer continued increasing usage while Kampuscell remains a well perceived campaign for the youth segment. Our newly designed SMS offers also contributed to our VAS revenues. We increased community advantages for the corporate segment and customized projects and office solutions to increase variety and penetration of value added services, while usage of mobile internet continued its upward trend. Co-branding offers continued for Istcell and gnctrkcll members, further underlining the "Turkcell's customers win everywhere" proposition.

All in all, these activities resulted in the highest number of net acquisitions in 2008, and an increase in MoU as well as ARPU. Our VAS revenues constituted 14% of the group's consolidated revenue in the third quarter of 2008, up from 11% in the third quarter of 2007.

We also led the market with the launch of the first Blackberry model supporting 3G, namely Blackberry Bold, placing Turkey as only the third country doing the launch. Additionally, we have launched the iPhone 3Gstarting to increase smart phones penetration which matches well with our focus of growing our VAS revenues.

All in all, during the third quarter, we further strengthened our advantageous offers and actions, successfully managed perception of our subscribers, and continued our preparation before important milestones such as the implementation of Mobile Number Portability and 3G in Turkey.

Financial and Operational Review of Third Quarter 2008

The following discussion focuses principally on the developments and trends in our business in the third quarter of 2008. Selected financial information for the third quarter of 2007, second quarter of 2008 and third quarter of 2008 is also included at the end of this press release.

Selected financial information in TRY prepared in line with the Capital Markets Board of Turkey's standards is also included at the end of this press release.

Macro environment Information Q3 2007 Q2 2008 Q3 2008 Q3 2008- Q3 2008- Q3 2007 Q2 2008 % Chg % Chg TRY / US$ rate Closing Rate 1.2048 1.2237 1.2316 2.2% 0.6% Average Rate 1.2932 1.2448 1.1959 (7.5%) (3.9%) INFLATION Consumer Price Index 0.3% 2.8% 0.8% - -

We are in a period of global financial turmoil during which we have witnessed a significant deterioration of the capital markets and a contraction in liquidity in the global markets, especially in October. Even though it is hard to quantify, so far, the impact of these macroeconomic developments on our operational indicators has been limited. However, the developments in the macroeconomic environment, geopolitical environment, the competitive environment and the dynamics of consumer confidence in Turkey may affect our results of operations, business and financial performance, including our achievement of revenue and EBITDA targets described below. Consequently, we will cautiously continue to monitor the developments in these areas and take into consideration the potential impact of the global volatility on the Turkish economy.

Financial Review Profit & Loss Statement Q3 Q2 Q3 Q3 2008- Q3 2008- 2007 2008 2008 Q3 2007 Q2 2008 (million US$) % Chg % Chg Total revenue 1,722.8 1,755.0 2,055.9 19.3% 17.1% Direct cost of revenue (799.9) (847.0) (935.5) 17.0% 10.4% Depreciation and amortization (202.2) (172.5) (172.0) (14.9%) (0.3%) Administrative expenses (56.9) (73.4) (87.9) 54.5% 19.8% Selling and marketing expenses (366.1) (366.8) 23.5% 0.2% (296.9) EBITDA 771.5 641.0 837.8 8.6% 30.7% EBITDA Margin 44.8 36.5% 40.8% (4.0) p.p. 4.3 p.p. Net finance income / (expense) (147.2) 70.5 67.0 (145.5%) (5.0%) Finance expense (230.7) (15.3) (16.7) (92.8%) 9.2% Finance income 83.5 85.8 83.7 0.2% (2.4%) Share of profit of equity accounted investees 17.2 29.3 25.1 45.9% (14.3%) Income tax expense (50.2) (118.9) (160.3) 219.3% 34.8% Net income 401.2 426.4 603.8 50.5% 41.6%

Revenue: Our consolidated revenue grew by 19.3% to US$2,055.9 million in the third quarter of 2008 despite declining interconnection revenues compared to the same period of last year. The growth can be mainly attributed to 4.3% subscriber growth, 7.5% appreciation of TRY against US$ and the partial impact of a 31.6% increase in usage combined with upward price adjustments. (Please note that the price adjustments realized compared to a year ago were 7.76% on December 18, 2007; 3.66% on June 25, 2008, and 1.35% on August 23, 2008.)

We increased our revenue in the third quarter of 2008 by 17.1% compared to the prior quarter. This was mainly the result of 2.5% increase in our subscriber base, the partial impact of a 17.9% increase in usage, 3.9% appreciation of TRY against US$ and upward price adjustments.

There are challenges in our operating environment and even though it may be hard to achieve, we will do our best to reach our target to record double digit revenue growth in TRY terms in 2008.

Direct cost of revenue: Although direct cost of revenue including depreciation and amortization increased year on year by 17.0% to US$935.5 million, the proportion of direct cost of revenue to total revenue slightly decreased to 45.5% in the third quarter of 2008 from 46.4% a year ago. This was mainly due to lower depreciation and amortization expenses as a percentage of revenues. The proportion of direct cost of revenue excluding depreciation and amortization increased mainly due to higher network related expenses.

In the third quarter of 2008, direct cost of revenue including depreciation and amortization increased by 10.4% compared to the previous quarter. However, direct cost of revenues including depreciation and amortization as a percent of revenue decreased to 45.5% in the third quarter of 2008 from 48.3% a quarter ago. This was mainly due to the higher increase in revenue, in nominal terms, compared to the cost base as well as lower depreciation and amortization expenses as a percentage of revenues.

Selling and marketing expenses: The share of selling and marketing expenses as a percentage of total revenue in the third quarter of 2008 increased to 17.8% from 17.2% compared to same period in 2007. Selling and marketing expenses increased in nominal terms by 23.5% year on year, reaching US$366.8 million in the third quarter of 2008 mainly due to higher acquisitions, 7.5% appreciation of TRY agaist US$ as well as higher prepaid frequency usage fee.

Even though selling and marketing expenses remained flat nominally on a quarter on quarter basis, the share of selling and marketing expenses as a percentage of total revenue in the third quarter of 2008 declined to 17.8% from 20.9% due to a higher increase in revenues.

Administrative expenses: During the third quarter of 2008, administrative expenses as a proportion of revenue slightly increased from 3.3% to 4.3% and amounted to US$87.9 million on annual basis. This was due to higher consultancy expenses as well as increasing bad debt in line with the increase in post-paid revenue.

Quarterly, administrative expenses as a proportion of revenue almost remained flat.

Share of profit of equity accounted investees: In the third quarter of 2008, our equity in net income of unconsolidated investees increased to US$25.1 million from US$17.2 million in the third quarter of 2007. This was mainly due to Fintur's solid operational performance.

The results of our 50% owned subsidiary A-Tel impacted two items in our financial statements. A-Tel's revenue generated from Turkcell, amounting to US$15.2 million, is netted from the selling and marketing expenses in our consolidated financial statements. The difference between the total net impact of A-Tel and the amount netted from selling and marketing expenses amounted to US$13.8 million and is recorded in the 'share of profit of equity accounted investees' line of our financial statements.

Net finance income/ expense: We recorded a net finance income of US$67.0 million in the third quarter of 2008 compared to a financial loss of US$147.2 million in the third quarter of 2007. This was mainly attributable to the translation loss of only US$34.6 million recorded in the third quarter of 2008, compared to a translation loss of US$205.1 million in the third quarter of 2007. The translation loss recorded in the third quarter of 2007 was mainly due to translation losses on a foreign currency long position and transaction losses accrued from structured forward contracts. Our interest income for the third quarter of 2008, as compared to the third quarter of 2007, also rose due to an increase in our cash balance.

Compared to the previous quarter, net finance income in the third quarter of 2008 decreased by 5.0% to US$67.0 million. This was mainly due to US$34.6 million translation loss in the third quarter of 2008 compared to US$19.4 million during the previous quarter. However, part of the decrease in net finance income due to translation loss was compensated for with the increase in interest income due to an increased cash balance.

Income tax expense: The total taxation charge in the third quarter of 2008 increased to US$160.3 million from US$50.2 million in the third quarter of 2007.

Out of the total tax charge during the third quarter of 2008, US$172.5 million was related to current tax charges and a deferred tax income of US$12.2 million was realized during the quarter. The increase in the deferred tax income was mainly due to the differences between our Turkish statutory financial statements and our financial statements prepared in accordance with the IFRS.

Income tax expense Q3 Q2 Q3 Q3 2008- Q3 2008- (million US$) 2007 2008 2008 Q3 2007 Q2 2008 % Chg % Chg Current Tax expense (104.2) (112.6) (172.5) 65.5% 53.2% Deferred Tax income /(expense) 54.0 (6.3) 12.2 (77.4%) (293.7%) Income Tax expense (50.2) (118.9) (160.3) 219.3% 34.8%

EBITDA: In the third quarter of 2008, EBITDA in nominal terms increased 8.6% year on year and reached US$837.8 million. However, the EBITDA margin decreased to 40.8% from 44.8% in the third quarter of 2007 mainly due to operating expenses stemming from network related expenses in the third quarter of 2008. Higher general and administrative expenses due to consultancy costs and bad debt in the third quarter of 2008 were another reason for year on year decline in EBITDA.

Quarterly, EBITDA increased by 30.7% in the third quarter 2008. EBITDA margin improved to 40.8% from 36.5% in 2Q08 mainly due to higher growth in revenues compared to the controlled cost base.

We expect our sales and marketing costs to increase in the fourth quarter, due to more active competition ahead of Mobile Number Portability implementation in Turkey. Despite these challenges in our operating environment, we will do our best to reach our target to record about 38% EBITDA margin in 2008.

Net income: Net income in the third quarter of 2008 increased 50.5% year on year to US$603.8 million. The increase was mainly attributable to US$205.1 million translation loss that we recorded in third quarter of 2007 as opposed to a translation loss of just US$34.6 million this quarter. Net income margin increased to 29.4% from 23.3% in the third quarter of 2007.

On a quarterly basis, net income in the third quarter of 2008 increased by 41.6% to US$603.8 million. This mainly resulted from the increase in operational profit during the quarter.

Total Debt: Our consolidated debt amounted to US$738.3 million as of September 30, 2008. While Turkcell Turkey has no financial debt of its own, US$543.4 million of this was related to our Ukrainian operations. All of our consolidated debt is at a floating rate and US$587.3 million will mature in less than a year. We believe that we have a strong balance sheet with a debt/annual EBITDA of 27% as of September 30, 2008; however, we may consider a roll-over of Astelit's $390 million debt in 2009.

Consolidated Cash Flow Q3 Q2 Q3 (million US$) 2007 2008 2008 EBITDA 771.5 641.0 837.8 LESS: Capex and License (188.1) (229.4) (175.7) Turkcell (130.3) (99.2) (80.8) Ukraine (26.1) (57.8) (47.7) Investment & Marketable 10.4 (7.1) (300.0) Securities Net Interest Income 57.9 89.9 101.6 Other 151.9 (198.4) (256.3) Net Change in Debt 38.4 (6.9) 73.2 Turkcell - - - Ukraine 21.3* - - Dividend paid by Turkcell - (502.3) - Cash Generated 842.0 (213.2) 280.6 Cash Balance 2,514.5 2,876.2 3,156.8

(*)This financing has been drawn down by Financell B.V., a wholly owned subsidiary of Turkcell, in July and has been provided to Astelit.

Cash Flow Analysis: Capital expenditures in the third quarter of 2008 amounted to US$175.7 million of which US$47.7 million was related to our Ukrainian operations.

US$300 million in the investment and marketable securities item belongs to the cash paid for the acquisition of BeST.

US$143.1 million withholding tax payment from the previous quarter is included in the other item in the cash flow.

As a result, at the end of the third quarter, our cash balance was US$3,156.8 million

In 2008, we originally planned a total of US$1,050 million capital expenditures for Turkey and Ukraine, including US$300 million for the Ukrainian subsidiary. We now expect a capital expenditure of around US$850 million, approximately US$600 million to be spent in Turkey and up to US$250 million in Ukraine.

Operational Review Summary of Q3 Q2 Q3 Q3 2008- Q3 2008- Operational Data 2007 2008 2008 Q3 2007 Q2 2008 % Chg % Chg Number of total subscribers (million) 34.8 35.4 36.3 4.3% 2.5% Number of postpaid subscribers (million) 6.3 6.9 7.2 14.3% 4.3% Number of prepaid subscribers (million) 28.5 28.5 29.1 2.1% 2.1% ARPU (Average Monthly Revenue per User), blended (US$) 15.3 14.9 17.3 13.1% 16.1% ARPU, postpaid (US$) 39.5 37.6 41.9 6.1% 11.4% ARPU, prepaid (US$) 10.0 9.5 11.2 12.0% 17.9% ARPU, blended (TRY) 19.8 18.5 20.6 4.0% 11.4% ARPU, postpaid (TRY) 51.1 46.7 50.1 (2.0)% 7.3% ARPU, prepaid (TRY) 13.0 11.8 13.4 3.1% 13.6% Churn (%) 5.7% 6.9% 6.2% 0.5 p.p. (0.7) p.p. MOU (Average Monthly Minutes of usage per subscriber), blended 83.0 92.6 109.2 31.6% 17.9%

Subscribers: In the third quarter of 2008 we recorded the highest net additions of 2008 along with our new communication theme and increased efficiency of the restructured sales channel. We added 972,500 net new subscribers during the quarter and our subscriber base grew by 4.3% on an annual basis, reaching 36.3 million as of September 30, 2008. Our subscriber base consists of 7.2 million postpaid and 29.1 million prepaid customers.

The growth in the subscriber base was due to the continuing positive impact of attractive postpaid acquisition campaigns resulting in a 14.3% increase in the postpaid subscriber base, which now accounts for 20% of our total subscriber base. Successful tariff launches, our new communication theme, increased efficiency of a restructured sales channel, dealer incentives and the continuous positive effect of ongoing campaigns led to a 2.1% growth in our pre-paid subscriber base on an annual basis.

In the third quarter of 2008 our subscriber base grew by 2.5% compared to the previous quarter. This is mainly attributable to our successful tariff launches and our new communication theme.

Churn Rate: Churn refers to voluntarily and involuntarily disconnected subscribers. In the third quarter of 2008, our churn rate was recorded at 6.2%. The active competitive environment led to a 0.5 percentage point increase in the churn rate year on year.

However, on a quarterly basis, the churn rate continued its decreasing trend with a further 0.7 percent point decrease compared to the second quarter of 2008. This was mainly due to our efforts to keep churn under control along with the positive impact of the new offers, tariffs, and ongoing campaigns. The majority of the churners were involuntary and low ARPU generating prepaid subscribers.

MoU: In the third quarter of 2008, blended minutes of usage per subscriber ("MoU") increased 31.6% annually and 17.9% quarterly to 109.2 minutes despite the impact of the full month of Ramadan. This can be attributed mostly to the positive impact of the new on-net tariff (Super Tariff), postpaid packages (Alo Packages) to incentivize usage, as well as youth tariff (Bizbize Kampus), Home Zone and effective communication for managing price perception of our subscribers.

ARPU: Our average revenue per user ("ARPU") grew by 13.1% year on year to US$17.3 in the third quarter of 2008 despite lower interconnect rates effective as of April 1, 2008. This mainly stemmed from the increase in usage along with our new campaigns and tariffs launched to manage price perception. Also, 7.5% appreciation of TRY against US$ and upward price adjustments contributed to the increase in ARPU.

On a quarterly basis blended ARPU grew 16.1% in US$ terms driven by a 3.9% appreciation of TRY against USD, upward price adjustments and the positive revenue effect of newly launched campaigns and tariffs.

Compared to last year, blended ARPU increased by 4.0% to TRY 20.6. This was mainly due to the positive effect of new campaigns and price increases, while the quarterly increase of 11.4% in TRY ARPU terms is attributable to the increase in usage along with ongoing campaigns and price adjustments. Post paid ARPU in TRY terms decreased by 2.0% year on year with the increase in subscriptions to incentivized tariff plans however increased 7.3% on a quarterly basis due to higher usage. Prepaid ARPU increased by 3.1% compared to a year ago and quarterly prepaid ARPU increased 13.6% mainly due to an increase in usage through new incentives.

Regulatory Developments 3G

Based on the official announcement of the Telecommunications Authority ("TA") in the Official Gazette dated October 9, 2008, the 3G license tender process for the granting of four separate licenses by the TA is expected to take place on November 28, 2008. The minimum prices for the four licenses range between EUR178 million and EUR285 million.

Licence Type A B C D Bandwidth to be 40 35 30 25 allocated (MHz) Minimum value (million EUR) 285 250 214 178

In September 2007, Turkcell had been granted an A Type license at a consideration of EUR321 million (excluding VAT) in the 3G tender launched by TA. However, the tender has been cancelled due to the fact that competitors did not participate.

International and Domestic Operations Fintur

We hold a 41.45% stake in Fintur and through Fintur we hold interests in GSM operations in Kazakhstan, Azerbaijan, Moldova and Georgia.

FINTUR Q3 2007 Q2 2008 Q3 2008 Q3 2008 - as of September 30, Q3 2007 2008 Subscriber Subscriber Subscriber %Chg (mio) (mio) (mio) Kazakhstan 5.4 6.9 7.0 29.6% Azerbaijan 2.8 3.3 3.4 21.4% Moldova 0.5 0.6 0.5 0% Georgia 1.2 1.4 1.5 25.0% TOTAL* 9.9 12.2 12.4 25.3% * combined FINTUR Q3 2007 Q2 2008 Q3 2008 Q3 2008 - as of September 30, Q3 2007 2008 Revenue Revenue Revenue %Chg (US$ mio) (US$ mio) (US$ mio) Kazakhstan 226 242 276 22.1% Azerbaijan 124 134 148 19.4% Moldova 14 16 17 21.4% Georgia 47 54 59 25.5% TOTAL* 411 446 500 22.0% * combined

Fintur's total number of subscribers in the third quarter of 2008 increased by 25.3% to 12.4 million compared to 3Q 2007. Consolidated revenues of Fintur totaled US$500 million as of September 30, 2008.

We account for our investment in Fintur using the equity method. Fintur's contribution to income increased to US$39.0 million along with a 21.9% year on year increase in the third quarter of 2008.

Astelit Astelit, in which we hold a 55% stake through Euroasia, has operated in Ukraine since February 2005 under the brand "life:)". During the third quarter of 2008; - Astelit continued to lead net additions market with well designed and attractive tariff and value added services, and especially attractive on-net advantages. - Astelit's market share grew from 14.3% to 19.6% compared to the same period of last year. - Astelit's subscriber base grew by 40.8% to 10.7 million compared to a year ago. - Attractive life:) offers ensuring monthly payments resulted in a 20.7% increase in 3-month active subscribers' ARPU to US$7.0 from US$5.8 a year ago. - Astelit's revenue surged by 68.2% to US$127.8 million while EBITDA increased almost four times to US$11.3 million. Summary Data for Astelit Q3 2008- Q3 2008- Q3 Q2 Q3 Q3 2007 Q2 2008 2007 2008 2008 %Chg %Chg Number of subscribers (million) Total 7.6 10.0 10.7 40.8% 7.0% Active (3 months)(1) 4.7 5.9 6.3 34.0% 6.8% Average Revenue per User (ARPU) in US$ Total 3.6 3.8 4.1 13.9% 7.9% Active (3 months) 5.8 6.3 7.0 20.7% 11.1% Revenue 76.0 110.1 127.8 68.2% 16.1% EBITDA(2) 2.9 3.6 11.3 289.7% 213.9% Net Loss (42.0) (18.7) (24.2) (42.4%) 29.4% Capex 26.1 57.8 47.7 82.8% (17.5%)

The Ukrainian market is in a fragile phase due to the volatility in the global markets as well as the impact of the ongoing political uncertainties in the country. In this environment, we are doing our best to grow our business and sustain operational profitability with strong execution by management in line with ongoing strategies of the company.

Our consolidated subsidiary Astelit has now revised its capex guidance for 2008 to US$250 million from US$300 million. This is mainly due to the postponement of 3G related capex. Astelit's capex include planned investments for further coverage and capacity.

Inteltek

Inteltek is our 55% owned subsidiary that operates in the sports betting business. On August 28, 2008 Spor-Toto conducted a tender which allowed private companies to organize fixed-odds and paramutuel betting in sports games. Inteltek, gave the best offer with 1.4% for the tender. On August 29, 2008 Inteltek signed a contract with Spor Toto, receiving the rights to run the sport betting business ("Iddaa") for the next 10 years. No material impact from Inteltek is expected for Turkcell's consolidated financials in 2008. For 2009 and beyond, the new commission rate to be applicable starting from March 2009 is low compared to the previous year and this will have an impact on Inteltek's contribution to Turkcell revenues. However, we view Inteltek as a new business and we will be working to create an efficient business model in this new environment for the next ten years.

Acquisition of BeST in Belarus

As part of our efforts to evaluate investment opportunities in the region and as previously announced on July 30, 2008, we signed a Share Purchase Agreement ("SPA") to acquire an 80% stake in Belarusian Telecommunications Network ("BeST"). The completion of the transaction was subject to the fulfillment of the conditions set forth in the SPA.

As the necessary conditions to acquire 80% of BeST have been fulfilled as of August 26, 2008, the transfer of shares was realized and the payment of US$300 million, which was undertaken as the first tranche of the deal, was made. As a result, the acquisition process has been completed and, accordingly, we began consolidating BeST into Turkcell's financials starting from 26 August 2008. However, the impact of the consolidation is negligible at this time.

We believe that the acquisition of BeST represents an opportunity for Turkcell to gain access to a market with a growth potential. We also believe that we can use our complimentary skills gained in Ukraine and CIS very effectively in Belarus to differentiate BeST as soon as possible.

Reconciliation of Non-GAAP Financial Measures

We believe that EBITDA is a measure commonly used by companies, analysts and investors in the telecommunications industry, which enhances the understanding of our operating results and assists in the evaluation of our capacity to meet our financial obligations. We also use EBITDA as an internal measurement tool and, accordingly, we believe that the presentation of EBITDA provides useful and relevant information to analysts and investors.

Beginning from the 2006 fiscal year, we have revised the definition of EBITDA which we use and we report EBITDA using this new definition starting from the first quarter of 2006 results announcement to provide a new measure to reflect solely cash flow from operations.

The EBITDA definition used in our previous press releases and announcements had included Revenues, Direct Cost of Revenues excluding depreciation and amortization, Selling and Marketing expenses, Administrative expenses, translation gain/(loss), financial income, income on unconsolidated subsidiaries, gain on sale of investments, income/(loss) from related parties, minority interest and other income/(expense). Our new EBITDA definition includes Revenues, Direct Cost of Revenues excluding depreciation and amortization, Selling and Marketing expenses and Administrative expenses, but excludes translation gain/(loss), financial income, income on unconsolidated subsidiaries, gain on sale of investments, income/(loss) from related parties, minority interest and other income/(expense).

EBITDA is not a measure of financial performance under IFRS and should not be construed as a substitute for net earnings (loss) as a measure of performance or cash flow from operations as a measure of liquidity.

The following table provides a reconciliation of EBITDA, which is a non-GAAP financial measure, to net cash provided by operating activities, which we believe is the most directly comparable financial measure calculated and presented in accordance with IFRS.

TURKCELL Q3 Q2 Q3 Q3 Q3 2008-Q3 2008-Q2 US$ million 2007 2008 2008 2007 2008 % Chg % Chg EBITDA 771.5 641.0 837.8 8.6% 30.7% Income Tax Expense (50.2) (118.9) (160.3) 219.3% 34.8% Other operating income/(expense) 2.4 (1.6) 3.7 54.2% (331.3%) Financial income 2.4 10.0 2.0 (16.7%) (80.0%) Financial expense (3.2) (12.7) (8.4) 162.5% (33.9%) Net (decrease)/increase in assets and liabilities 219.8 (252.9) (20.8) (109.5%) (91.8%) Net cash from operating activities 942.7 264.9 654.0 (30.6%) 146.9% EUROASIA (Astelit) Q3 Q2 Q3 Q3 2008-Q3 Q3 2008 2007 US$ million 2007 2008 2008 -Q2 2008 % Chg % Chg EBITDA 2.9 3.6 11.3 289.7% 213.9% Other operating 0.2 (0.1) 0.6 200.0% (700.0%) income/(expense) Financial income 0.7 1.8 2.0 185.7% 11.1% Financial expense (21.0) (12.5) (8.5) (59.5%) (32.0%) Net 31.3 37.4 36.4 16.3% (2.7%) increase/(decrease) in assets and liabilities Net cash from 14.1 30.2 41.8 196.5% 38.4% operating activities Turkcell Group Subscribers

We have approximately 50.5 million proportionate GSM subscribers as of September 30, 2008. This is calculated by taking the number of GSM subscribers in Turkcell and each of our subsidiaries and multiplying the number of unconsolidated investees by our percentage ownership interest in each subsidiary. This figure includes the proportionate rather than total number of Fintur's GSM subscribers.However, it includes the total number of GSM subscribers in Astelit, Best and in our operations in the Turkish Republic of Northern Cyprus ("Northern Cyprus") because the financial statements of our subsidiaries in Ukraine, Belarus and Northern Cyprus are consolidated with Turkcell's financial statements.

Turkcell Group Q3 Q2 Q3 Q3 2008- Q3 2008-Q2 Subscribers Q3 2007 Q2 2008 2007 2008 2008 % change % change (million) Turkcell 34.8 35.4 36.3 4.3% 2.5% Ukraine 7.6 10.0 10.7 40.8% 7.0% Fintur (pro 2.3 3.0 3.0 30.4% 7.1% rata) Northern 0.3 0.3 0.3 0% 0% Cyprus Belarus - - 0.2 na na TURKCELL GROUP 45.0 48.6 50.5 12.2% 3.9% Forward-Looking Statements

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release, including, without limitation, certain statements regarding our operations, financial position and business strategy may constitute forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as, among others, "may," "will," "expect," "intend," "plan," "estimate," "anticipate," "believe" or "continue."

Although Turkcell believes that the expectations reflected in such forward-looking statements are reasonable at this time, it can give no assurance that such expectations will prove to be correct. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. All subsequent written and oral forward-looking statements attributable to us are expressly qualified in their entirety by reference to these cautionary statements.

For a discussion of certain factors that may affect the outcome of such forward looking statements, see our Annual Report on Form 20-F for 2007 filed with the U.S. Securities and Exchange Commission, and in particular the risk factor section therein.

http://www.turkcell.com.tr/ ABOUT TURKCELL

Turkcell is the leading GSM operator in Turkey with 36.3 million postpaid and prepaid customers as of September 30, 2008 operating in a three player market with a market share of approximately 56% as of June 30, 2008 (Source: The Telecommunications Authority). In addition to high-quality wireless telephone services, Turkcell currently offers General Packet Radio Service ("GPRS") countrywide and Enhanced Data Rates for GSM Evolution ("EDGE") in dense areas, which provide for both improved data and voice services. Turkcell provides roaming with 592 operators in 201 countries as of November 4, 2008. Serving a large subscriber base in Turkey with its high-quality wireless telephone network, Turkcell reported US$5.4 billion net revenues for the nine months as of September 30, 2008 and US$6.3 billion net revenues as of December 31, 2007 as per IFRS financial statements. Turkcell has interests in international GSM operations in Azerbaijan, Belarus, Georgia, Kazakhstan, Moldova, Northern Cyprus and Ukraine. Turkcell has been listed on the NYSE ("New York Stock Exchange") and the ISE ("Istanbul Stock Exchange") since July 2000 and is the only NYSE listed company in Turkey. 51.00% of Turkcell's share capital is held by Turkcell Holding, 0.05% by Cukurova Group, 13.07% by Sonera Holding, 2.32% by M.V. Group and 0.08% by others while the remaining 33.48% is free float.

TURKCELL ILETISIM HIZMETLERI A.S. SELECTED IFRS FINANCIALS (US Dollar Million) Quarter Quarter Quarter 9 months 9 months Ended Ended, Ended , September 30, September 30, September June 30 September 2007 2008 30, 2007 2008 30, 2008 Consolidated Statement of Operations Data Revenues Communication 1,642.3 1,669.8 1,963.9 4,270.8 5,119.1 fees Commission 40.0 41.8 37.1 116.1 131.8 fees on betting business Monthly 13.9 18.1 17.6 40.0 52.5 fixed fees Simcard 5.2 6.4 9.4 18.6 21.1 sales Call 21.4 18.9 27.9 75.5 60.9 center revenues and other revenues Total 1,722.8 1,755.0 2,055.9 4,521.0 5,385.4 revenues Direct (799.9) (847.0) (935.5) (2,254.2) (2,607.6) cost of revenues Gross profit 922.9 908.0 1,120.4 2,266.8 2,777.8 Administrative (56.9) (73.4) (87.9) (163.7) (233.5) expenses Selling (296.9) (366.1) (366.8) (810.2) (1,025.5) & marketing expenses Other 2.4 (21.4) 3.7 6.6 (16.5) Operating Income / (Expense) Operating 571.5 447.1 669.4 1,299.5 1,502.3 profit before financing costs Finance (230.7) (15.3) (16.7) (445.4) (48.0) expense Finance 83.5 85.8 83.7 213.5 394.8 income Share of 17.2 29.3 25.1 43.4 74.4 profit of equity accounted investees Income 441.5 546.9 761.5 1,111.0 1,923.5 before taxes and minority interest Income (50.2) (118.9) (160.3) (197.2) (405.5) tax expense Income 391.3 428.0 601.2 913.8 1,518.0 before minority interest Minority 9.9 (1.6) 2.6 33.2 (1.0) interest Net 401.2 426.4 603.8 947.0 1,517.0 income Net 0.182358 0.193839 0.274451 0.430435 0.689558 income per share Other Financial Data Gross margin 54% 52% 54% 50% 52% EBITDA(*) 771.5 641.0 837.8 1,881.7 2,055.8 Capital 188.1 229.4 175.7 508.8 597.5 expenditures Consolidated Balance Sheet Data (at period end) Cash and 2,514.5 2,876.2 3,156.8 2,514.5 3,156.8 cash equivalents Total 7,649.3 8,424.3 9,570.3 7,649.3 9,570.3 assets Long term 139.7 522.7 151.0 139.7 151.0 debt Total debt 739.9 638.4 738.3 739.9 738.3 Total 2,300.6 2,317.8 2,918.7 2,300.6 2,918.7 liabilities Total equity 5,348.7 6,106.4 6,651.5 5,348.7 6,651.5 * Please refer to the notes on reconciliation of Non-GAAP Financial measures on page 12 ** For further details, please refer to our consolidated financial statements and notes as at and for the nine months ended 30 September 2008 on our web site. TURKCELL ILETISIM HIZMETLERI A.S. SELECTED CMB* FINANCIALS (TRY Million) Quarter Quarter Quarter 9 months 9 months Ended Ended, Ended , September 30, September 30, September June 30 September 2007 2008 30, 2007 2008 30, 2008 Consolidated Statement of Operations Data Revenues Communication 2,126.1 2,075.2 2,348.2 5,709.7 6,190.7 fees Commission 51.4 52.4 44.2 157.3 159.6 fees on betting business Monthly fixed fees 18.0 22.6 21.0 53.6 63.6 Simcard sales 6.7 8.1 11.3 25.1 25.4 Call center 27.4 22.9 33.7 99.2 73.7 revenues and other revenues Total revenues 2,229.6 2,181.2 2,458.4 6,044.9 6,513.0 Direct cost (1,026.7) (1,048.5) (1,114.4) (2,993.8) (3,138.3) of revenues Gross profit 1,202.9 1,132.7 1,344.0 3,051.1 3,374.7 Administrative (73.6) (91.3) (105.1) (219.6) (282.2) expenses Selling & (383.6) (454.9) (438.6) (1,083.5) (1,241.2) marketing expenses Other Operating 3.0 (26.2) 4.5 8.8 (19.8) Income / (Expense) Operating profit 748.7 560.3 804.8 1,756.8 1,831.5 before financing costs Finance expense (290.9) (11.2) (20.0) (578.9) (58.5) Finance income 106.8 98.8 100.3 284.8 478.7 Share of profit 15.1 34.2 32.0 48.4 92.3 of equity accounted investees Income before 579.7 682.1 917.1 1,511.1 2,344.0 taxes and minority interest Income tax (71.6) (148.3) (192.6) (277.0) (494.9) expense Income before 508.1 533.8 724.5 1,234.1 1,849.1 minority interest Minority interest 12.6 (2.1) 3.2 43.7 (1.5) Net income 520.7 531.7 727.7 1,277.8 1,847.6 Net income 0.236675 0.241651 0.330752 0.580820 0.839800 per share Other Financial Data Gross margin 54% 52% 55% 50% 52% EBITDA(*) 999.1 796.3 1,001.8 2,511.8 2,485.0 Capital 194.6 270.5 219.7 613.0 735.9 expenditures Consolidated Balance Sheet Data (at period end) Cash and 3,029.5 3,519.6 3,887.9 3,029.5 3,887.9 cash equivalents Total assets 9,114.0 10,226.5 11,708.9 9,114.0 11,708.9 Long term debt 168.3 639.7 186.0 168.3 186.0 Total debt 891.4 781.2 909.3 891.4 909.3 Total 2,752.4 2,821.1 3,580.4 2,752.4 3,580.4 liabilities Total equity 6,361.6 7,405.4 8,128.5 6,361.6 8,128.5 * Capital Market Board of Turkey ** For further details, please refer to our consolidated financial statements and notes as at and for the nine and three months ended 30 September 2008 on our web site.

(1) Active subscribers are those who in the past three months made a transaction which brought revenue to the Company.

(2) EBITDA is a non-GAAP financial measure. See page 13 for the reconciliation of Euroasia's EBITDA to net cash from operating activities. Eurasia holds 100% stake in Astelit.

For further information please contact Turkcell Corporate Affairs Koray Ozturkler, Chief Corporate Affairs Officer Tel: +90-212-313-1500 Email: koray.ozturkler@turkcell.com.tr Investors: Nihat Narin, Investor Relations Tel: +90-212-313-1244 Email: nihat.narin@turkcell.com.tr investor.relations@turkcell.com.tr Media: Filiz Karagul Tuzun, Corporate Communications Tel: +90-212-313-2304 Email: filiz.karagul@turkcell.com.tr

Turkcell

CONTACT: For further information please contact Turkcell, Corporate
Affairs, Koray Ozturkler, Chief Corporate Affairs Officer, Tel:
+90-212-313-1500, Email: koray.ozturkler@turkcell.com.tr; Investors:, Nihat
Narin, Investor Relations, Tel: +90-212-313-1244, Email:
nihat.narin@turkcell.com.tr, investor.relations@turkcell.com.tr; Media:,
Filiz Karagul Tuzun, Corporate Communications, Tel: +90-212-313-2304, Email:
filiz.karagul@turkcell.com.tr

Activision Blizzard Announces September Quarter Results- September Quarter Net Revenues and EPS Exceed Prior Outlook -- Company Reaffirms Full Year 2008 Outlook -- Company's Board of Directors Authorizes $1 Billion Stock Repurchase Program -

SANTA MONICA, Calif., Nov. 5 /PRNewswire-FirstCall/ -- Activision Blizzard, Inc. today announced September quarter financial results.

For the quarter ended September 30, 2008, Activision Blizzard's GAAP net revenues were $711 million. Excluding the impact of change in deferred net revenues ($12 million) and net revenues from Activision Blizzard's non-core exit operations ($6 million), the company's non-GAAP net revenues were $717 million. Including Activision's stand-alone net revenues of $53 million for July 1 - July 9, 2008, the company's non-GAAP comparable-basis net revenues were $770 million. The company's prior non-GAAP net revenue outlook was $620 million.

Activision Blizzard's GAAP operating loss for the quarter was $194 million. Excluding the impact of the change in deferred net revenues and cost of sales ($12 million), the impact of equity-based compensation expense ($26 million), Activision Blizzard's non-core exit operations loss ($110 million), one-time costs related to the business combination with Vivendi Games ($78 million), and the amortization of intangibles and the changes in costs of sales resulting from purchase price accounting adjustments ($90 million), Activision Blizzard's non-GAAP operating income was $122 million. Including Activision's stand-alone non-GAAP operating loss of $9 million for July 1 - July 9, 2008, the Company's non-GAAP comparable-basis operating income was $113 million.

For the quarter, Activision Blizzard's split-adjusted GAAP loss per share was $0.08. Excluding the impact of the change in deferred net revenues and cost of sales ($0.01 per share), the impact of equity-based compensation expense ($0.01 per share), Activision Blizzard's non-core exit operations loss ($0.05 per share), one-time costs related to the business combination with Vivendi Games ($0.04 per share), and the amortization of intangibles and the changes in costs of sales resulting from purchase price accounting adjustments ($0.04 per share), Activision Blizzard's non-GAAP split-adjusted earnings per diluted share were $0.07. The company's prior non-GAAP split-adjusted earnings per diluted share outlook was $0.04.

Separately, Activision Blizzard also announced that its Board of Directors has authorized a stock repurchase program under which the company can repurchase up to $1 billion of the company's common stock.

Robert Kotick, CEO of Activision Blizzard, stated, "For our first quarter as a combined company, Activision Blizzard's financial results were higher than the outlook we provided on our last earnings call, both on a GAAP and non-GAAP basis. Our performance was driven by continued strong worldwide sales of Call of Duty(R) 4: Modern Warfare(TM), Guitar Hero(R): Aerosmith(R) and Guitar Hero(R): On Tour(TM), Blizzard Entertainment(R)'s World of Warcraft(R) and the international release of LucasArts' Star Wars(TM): The Force Unleashed(TM)."

Kotick continued, "In the December quarter, we will launch our strongest holiday slate ever, which is based on some of the best-selling franchises in the industry. We are excited about our holiday releases, which are all based on proven franchises, and will deliver our entire slate on schedule with strong product quality on our key titles. However, we remain cautious given the likely slowdown in consumer spending this holiday season."

"As a result of our strong momentum through the first 9 months of the year and our solid holiday slate, we are reaffirming our full year non-GAAP outlook of $4.9 billion in revenues and $1.2 billion in operating income. We also announced a $1 billion share repurchase program which illustrates our confidence in the long-term growth of the company and our commitment to providing superior returns to our shareholders," Kotick added.

Business Highlights

-- For the September quarter, Activision Blizzard had two of the top-10 titles in dollars on all console platforms in the U.S., according to The NPD Group.

-- For the September quarter, Activision Blizzard was the #1 third-party publisher on the Nintendo DS, according to The NPD Group.

-- For the September quarter, Guitar Hero: On Tour was the #1 best-selling title overall in North America for the Nintendo DS, according to The NPD Group.

-- For the September quarter, Activision Blizzard had two of the top-five PC titles worldwide -- Blizzard Entertainment's World of Warcraft: Battle Chest(R) and Call of Duty 4: Modern Warfare, according to Charttrack, Gfk and The NPD Group.

-- For the first nine months of the calendar year, Guitar Hero remained the #1 best-selling franchise in U.S. on all console platforms, according to the NPD Group.

-- On July 9, 2008, Vivendi Games, Inc. and Activision, Inc. completed the transaction, announced on December 2, 2007 to create Activision Blizzard as the world's most profitable pure-play online and console game publisher. Activision Blizzard was formed by combining Activision, Inc., one of the world's leading independent publishers of interactive entertainment, and Vivendi Games, Inc., Vivendi's interactive entertainment business, which includes Blizzard Entertainment's World of Warcraft, the world's #1 subscription-based massively multiplayer online role-playing game ("MMORPG").

-- On August 12, 2008, Blizzard Entertainment, Inc. and NetEase.com, Inc. announced an agreement to license Blizzard Entertainment's StarCraft(R) II, Warcraft(R) III: Reign of Chaos(TM), Warcraft III: The Frozen Throne(TM), and Battle.net(R) platform, which provides online multiplayer services for these games, to Shanghai EaseNet Network Technology Limited, an affiliated company of NetEase.com, Inc. Blizzard Entertainment and NetEase also established a joint venture, which will provide support for the operation of the licensed games and Battle.net platform in China.

-- On September 8, 2008, Activision Blizzard completed a two-for-one stock split.

-- On September 12, 2008, Activision Publishing acquired FreeStyle Games, a premier U.K. based video game developer specializing in music-based games.

-- On October 28, 2008, Blizzard Entertainment, Inc. announced that the subscribership for World of Warcraft, its award-winning MMORPG, exceeded 11 million players worldwide.

Company Outlook

For the December quarter, Blizzard Entertainment expects to release Wrath of the Lich King(TM), World of Warcraft's second expansion pack, and Activision Publishing expects to release a full slate of titles, including Guitar Hero(R) World Tour(TM), Guitar Hero(R): On Tour Decades(TM), Call of Duty(R): World at War(TM), Quantum of Solace(TM), Spider-Man(TM): Web of Shadows, Madagascar: Escape 2 Africa(TM) Video Game, Crash Bandicoot(R): Mind Over Mutant, Spyro(TM): Dawn of the Dragon, Kung Fu Panda: Legendary Warriors (TM), TRANSFORMERS Animated: The Game and Tony Hawk's Motion.

Activision Blizzard continues to expect that online functionality for certain key titles to be released in the December quarter, and thereafter, will become a significant component of game play for certain platforms and that the company will have continuing performance obligations beyond the sale of the game for these titles. As a result, the company expects to begin recognizing a substantial amount of net revenues and costs of sales from these online-enabled games over the estimated service period.

Revenues related to the sale of World of Warcraft boxed software, including the sale of expansion packs and other ancillary revenues will continue to be deferred and recognized ratably over the estimated customer life beginning upon activation of the software and delivery of the services.

As a result of the above, Activision Blizzard anticipates that a considerable amount of net revenues and costs of sales that would have been recognized in the December quarter will be recognized in calendar year 2009. While this will not impact the economics of Activision Blizzard's business or its cash flows, these changes will have a material impact on the company's calendar 2008 GAAP results.

In order to provide comparable year-over-year performance information, Activision Blizzard's non-GAAP results will exclude the impact of the change in deferred net revenues and cost of sales related to those online-enabled key titles on certain platforms, and will also exclude deferred revenues and costs related to the MMORPG platform for World of Warcraft.

Additionally, in calendar 2008, in order to provide comparable operating performance information for the core operations of Activision Blizzard, the company's non-GAAP results also exclude: the impact of expenses related to equity-based compensation costs; Activision Blizzard's non-core exit operations, which is the operating results of products and operations from the historical Vivendi Games, Inc. businesses that the company has begun to exit or wind down; one-time costs related to the business combination between Activision, Inc. and Vivendi Games, Inc. (including transaction costs, integration costs, and restructuring activities); the amortization of intangibles and the increase in the fair value of inventories and the associated changes in cost of sales resulting from purchase price accounting adjustments from the business combination; and the associated tax benefits.

For the December quarter 2008, Activision Blizzard expects GAAP net revenues of $1.6 billion, and GAAP loss per share of $0.01. Excluding the impact of change in deferred net revenues ($569 million), and net revenues from Activision Blizzard's non-core exit operations ($2 million), the company expects non-GAAP net revenues of $2.2 billion.

Excluding the impact of the change in deferred net revenues and cost of sales ($0.17 per share), equity-based compensation expense ($0.02 per share), Activision Blizzard's non-core exit operations ($0.01 per share), one-time costs related to the business combination with Vivendi Games, Inc. ($0.01 per share), and the amortization of intangibles and the changes in costs of sales resulting from purchase price accounting adjustments ($0.09 per share), Activision Blizzard expects non-GAAP earnings per diluted share of $0.29 for the December quarter.

Stock Repurchase Program

Under Activision Blizzard's stock repurchase program, shares may be purchased as determined by the company from time to time on the open market or in private transactions, including structured or accelerated transactions. The timing and amount of share repurchases under the program will be determined by the company based on its evaluation of market conditions and other factors. The repurchase program may be suspended or discontinued at any time.

The repurchase program will be funded using the company's working capital. Any repurchased shares will be available for use in connection with the company's stock plans and for other corporate purposes.

Conference Call

Today at 4:30 p.m. EST, Activision Blizzard's management will host a conference call and Webcast to discuss Activision Blizzard's results for the quarter ended September 30, 2008 and management's outlook for the remainder of the calendar year. The company welcomes all members of the financial and media communities and other interested parties to visit the "Investor Relations" area of http://www.activisionblizzard.com/ to listen to the conference call via live Webcast or to listen to the call live by dialing into 719-325-4871 in the U.S.

Non-GAAP Financial Measures

Activision Blizzard provides net revenues, net income (loss), earnings (loss) per share and operating margin data and guidance both including (in accordance with GAAP) and excluding (non-GAAP): the impact of the change in deferred net revenues and costs of sales; the impact of expenses related to equity-based compensation costs; Activision Blizzard's non-core exit operations (which is the operating results of products and operations from the historical Vivendi Games, Inc. businesses that the company has begun to exit or wind down); one-time costs related to the business combination between Activision, Inc. and Vivendi Games, Inc. (including transaction costs, integration costs, and restructuring activities); the amortization of intangibles and the increase in the fair value of inventories and the associated changes in cost of sales resulting from purchase price accounting adjustments from the business combination; and the associated tax benefits. These adjustments have the effect of increasing non-GAAP net revenues, non-GAAP net income, non-GAAP earnings per share and non-GAAP operating margin (and reducing non-GAAP net loss and non-GAAP loss per share) by the same amounts as compared with GAAP net revenues, GAAP net income (loss), GAAP earnings (loss) per share and GAAP operating margin for the period.

As online functionality becomes a more important component of gameplay, the company expects that certain of Activision Blizzard's non-subscription based online-enabled games to be released in the December quarter will contain a more-than-inconsequential separate service deliverable in addition to the product, and its performance obligations for these games will extend beyond the sale of the games. Vendor-specific objective evidence of fair value will not exist for the online services, as the company does not plan to separately charge for this component of online-enabled games.

As a result, for certain key titles to be released in the December quarter of 2008 and thereafter, the company will recognize all of the revenues from the sale of certain of Activision's online-enabled games for certain platforms ratably over the estimated service period. In addition, the company will defer the costs of sales of those titles to match revenues. As a consequence, the company's non-GAAP results will exclude the impact of the change in deferred revenues and costs of sales related to certain of Activision's online-enabled games for certain of the Microsoft, Sony, Nintendo and PC platforms in order to provide comparable year-over-year performance.

Revenues related to the sale of World of Warcraft boxed software, including the sale of expansion packs and other ancillary revenues will continue to be deferred and recognized ratably over the estimated customer life beginning upon activation of the software and delivery of the services. Activision Blizzard recognizes that there are limitations associated with the use of these non-GAAP financial measures as they do not reflect net revenues, net income (loss), earnings (loss) per share and operating margin as determined in accordance with GAAP, and may reduce comparability with other companies that calculate similar non-GAAP measures differently.

Management compensates for the limitations resulting from the exclusion of these items by considering the impact of these items separately and by considering Activision Blizzard's GAAP as well as non-GAAP results and outlook and, in this release, by presenting the most comparable GAAP measures, net revenues, net income (loss), earnings (loss) per share and operating margin directly ahead of non-GAAP net revenues, non-GAAP net income (loss), non-GAAP earnings (loss) per share, and non-GAAP operating margin, and by providing a reconciliation which indicates and describes the adjustments made.

Management believes that the presentation of these non-GAAP financial measures provides investors with additional useful information to measure Activision Blizzard's financial and operating performance because they facilitate comparison of operating performance between periods. Management further believes that reflecting the use of non-GAAP measures that eliminate the impact of deferred revenues and costs of sales in its operating results is important when evaluating Activision Blizzard's operating performance, and when planning, forecasting and analyzing future periods.

Management also believes that non-GAAP measures that exclude Activision Blizzard's non-core exit operations, one-time costs related to the business combination between Activision, Inc. and Vivendi Games, Inc. (including transaction costs, integration costs, and the costs associated with restructuring activities), the amortization of intangibles and the increase in the fair value of inventories and the associated changes in cost of sales resulting from purchase price accounting adjustments from the business combination, provides a better comparison to prior periods in which Activision, Inc. and Vivendi Games, Inc. were operating as stand-alone companies, and the resulting effects arising from the business combination does not affect the on-going economics of the combined entity. Management believes the use of these non-GAAP financial measures helps investors to better understand the results of Activision Blizzard. Internally, management uses these non-GAAP financial measures in assessing the company's operating results, as well as in planning and forecasting.

These non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, financial measures determined in accordance with GAAP.

These non-GAAP financial measures are not based on a comprehensive set of accounting rules or principles, and the terms non-GAAP net revenues, non-GAAP net income (loss), non-GAAP earnings (loss) per share, non-GAAP operating margin do not have a standardized meaning. Therefore, other companies may use the same or similarly named measures, but exclude different items, which may not provide investors a comparable view of Activision Blizzard's performance in relation to other companies.

Comparable-Basis Presentation by Segment -- Non-GAAP Comparable Measures

On July 9, 2008, the business combination between Activision, Inc. and Vivendi Games, Inc. was consummated. As a result of the consummation of the business combination, Activision, Inc. was renamed Activision Blizzard, Inc.

For accounting purposes, because the business combination resulted in Vivendi obtaining control of Activision, Inc. through the acquisition of a majority of common stock of Activision, Inc., the business combination is treated as a "reverse acquisition," with Vivendi Games, Inc. deemed to be the accounting acquirer. As a result, the historical financial statements of Activision Blizzard, Inc. prior to July 9, 2008 are those of Vivendi Games, Inc. and the results of Activision, Inc. prior to July 9, 2008 are not included as part of Activision Blizzard, Inc.'s historical financial statements.

As one means of analyzing Activision Blizzard, Inc.'s performance, the company presents data that combines: (1) the company's results after July 9, 2008, (2) Vivendi Games, Inc.'s results prior to July 9, 2008 and (3) Activision, Inc.'s results prior to July 9, 2008. Management uses information prepared on this comparable basis internally to compare results and believes that this presentation provides investors with additional useful information to understand the company's performance on a year-over-year comparable basis. However, the data is not presented in accordance with GAAP and is not presented in accordance with Article 11 of Regulation S-X relating to pro forma financial statements. The non-GAAP information presented should be considered in addition to, not as a substitute for or superior to, financial measures determined in accordance with GAAP.

The following data is presented in the attachments to this press release:

-- Non-GAAP Comparable Basis Segment Net Revenues for the three and nine months ended September 30, 2007 and 2008

-- Non-GAAP Comparable Basis Segment Operating Income (Loss) for the three and nine months ended September 30, 2007 and 2008

In conjunction with the business combination, Activision Blizzard, Inc. changed the manner in which senior management assesses the operating performance of, and allocates resources to, its operating segments. As a result, the company now operates in four segments:

i. Activision Publishing ("Activision") -- which consists of the historical business of Activision, Inc. publishing interactive entertainment software and peripherals, and certain studios, assets, and titles previously included in Vivendi Games' historical "Sierra" operating segment;

ii. Blizzard -- which consists of the business of Blizzard Entertainment, Inc. and its subsidiaries publishing traditional games and online subscription-based games in the MMORPG category;

iii. Distribution -- which consists of the distribution of interactive entertainment software and hardware products; and

iv. Activision Blizzard's non-core exit operations ("Non-Core") -- which consists of legacy divisions or business units that the company has begun to exit or wind down as part of our restructuring and integration efforts as a result of the business combination.

Activision, Blizzard and Distribution are referred to collectively as Activision Blizzard Inc.'s core operations ("Core").

With respect to periods prior to July 9, 2008, results for historical Activision, Inc. are reported in the Activision and Distribution segments. In addition, as a result of the change in operating and reporting segments, all prior period segment information has been restated to conform to this new financial statement presentation.

About Activision Blizzard

Headquartered in Santa Monica, California, Activision Blizzard, Inc. is a worldwide pure-play online, PC, console and handheld game publisher with leading market positions across every major category of the rapidly growing interactive entertainment software industry.

Activision Blizzard maintains operations in the U.S., Canada, the United Kingdom, France, Germany, Ireland, Italy, Sweden, Spain, Norway, Denmark, the Netherlands, Romania, Australia, Chile, India, Russia, Japan, South Korea, China and the region of Taiwan. More information about Activision Blizzard and its products can be found on the company's website, http://www.activisionblizzard.com/.

Cautionary Note Regarding Forward-looking Statements: Information in this press release that involves Activision Blizzard's expectations, plans, intentions or strategies regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. Activision Blizzard generally uses words such as "outlook," "will," "remains," "to be," "plans," "believes," "may," "expects," "intends," and similar expressions to identify forward-looking statements. Factors that could cause Activision Blizzard's actual future results to differ materially from those expressed in the forward-looking statements set forth in this release include, but are not limited to, sales levels of Activision Blizzard's titles, shifts in consumer spending trends, the impact of the current macroeconomic environment, the seasonal and cyclical nature of the interactive game market, Activision Blizzard's ability to predict consumer preferences among competing hardware platforms (including next-generation hardware), declines in software pricing, product returns and price protection, product delays, retail acceptance of Activision Blizzard's products, adoption rate and availability of new hardware and related software, industry competition, rapid changes in technology and industry standards, protection of proprietary rights, litigation against Activision Blizzard, maintenance of relationships with key personnel, customers, vendors and third-party developers, domestic and international economic, financial and political conditions and policies, foreign exchange rates, integration of recent acquisitions and the identification of suitable future acquisition opportunities, Activision Blizzard's success in integrating the operations of Activision and Vivendi Games in a timely manner, or at all, and the combined Company's ability to realize the anticipated benefits and synergies of the transaction to the extent, or in the timeframe, anticipated, and the other factors identified in the risk factors section of Activision Blizzard's quarterly report on Form 10-Q for the June 30, 2008 quarter. The forward-looking statements in this release are based upon information available to Activision Blizzard as of the date of this release, and Activision Blizzard assumes no obligation to update any such forward-looking statements.

Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of Activision Blizzard and are subject to risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations.

(Tables to Follow) ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except earnings (loss) per share data) Quarter ended Nine months ended September 30, September 30, 2008 2007* 2008 2007* (Unaudited) (Unaudited)(Unaudited) (Unaudited) Net revenues: Product sales $413 $98 $553 $246 Subscription, licensing and other revenues 298 228 834 650 Total net revenues $711 $326 $1,387 $896 Costs and expenses: Cost of sales - product costs 279 31 350 95 Cost of sales - software royalties and amortization 50 5 88 14 Cost of sales - intellectual property licenses 36 1 45 5 Cost of sales - massively multi-play online game ("MMOG") 43 40 123 146 Product development 200 117 414 327 Sales and marketing 142 46 220 105 Restructuring costs 61 - 61 (1) General and administrative 94 29 172 71 Total costs and expenses 905 269 1,473 762 Operating income (loss) (194) 57 (86) 134 Investment income, net 24 (2) 28 (5) Income (loss) before income tax provision (benefit) (170) 55 (58) 129 Income tax provision (benefit) (62) 7 (22) (12) Net income (loss) $(108) $48 $(36) $141 Basic loss per share $(0.08) $0.08 $(0.04) $0.24 Weighted average common shares outstanding 1,271 591 816 591 Diluted loss per share $(0.08) $0.08 $(0.04) $0.24 Weighted average common shares outstanding assuming dilution 1,271 591 816 591 *On July 9, 2008, a business combination (the "Business Combination") by and among Activision, Inc., Sego Merger Corporation, a wholly-owned subsidiary of Activision, Inc., Vivendi S.A. ("Vivendi"), VGAC LLC, a wholly-owned subsidiary of Vivendi ("VGAC") and Vivendi Games, Inc., a wholly-owned subsidiary of VGAC ("Vivendi Games" or "VG") was consummated. As a result of the consummation of the Business Combination, Activision, Inc. was renamed Activision Blizzard, Inc. For accounting purposes, because the Business Combination resulted in Vivendi obtaining control of Activision, Inc. through the acquisition of a majority of common stock of Activision, Inc., the Business Combination is treated as a "reverse acquisition," with Vivendi Games deemed to be the acquirer. As a result, (i) the historical financial statements of the company prior to July 9, 2008 are those of Vivendi Games, Inc. and (ii) the results of Activision, Inc. prior to July 9, 2008 are not included as part of the company's historical financial statements. Further, earnings per share for periods prior to the Business Combination are retrospectively adjusted to reflect the number of split adjusted shares received by Vivendi, former parent of Vivendi Games, Inc. ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In millions) September 30, December 31, 2008 2007* ASSETS (Unaudited) Current assets: Cash and cash equivalents $2,842 $62 Short-term investments 94 3 Accounts receivable, net 316 104 Inventories 377 21 Software development 226 25 Intellectual property licenses 10 9 Deferred income taxes 228 143 Intangible assets, net 51 - Other current assets 57 23 Total current assets 4,201 390 Long-term investments 86 - Software development 20 51 Intellectual property licenses - 8 Property and equipment, net 168 129 Deferred income taxes 80 24 Other assets 21 6 Intangible assets, net 1,462 7 Trade name 433 53 Goodwill 7,270 203 Total assets $13,741 $871 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $338 $49 Deferred revenues 206 197 Accrued expenses and other liabilities 557 274 Total current liabilities 1,101 520 Deferred income tax 696 - Other liabilities 169 111 Total liabilities 1,966 631 Shareholders' equity: Common stock - - Additional paid-in capital 12,165 490 Net payable to Vivendi and affiliated companies - 77 Retained earnings (accumulated deficit) (403) (367) Accumulated other comprehensive income 13 40 Total shareholders' equity 11,775 240 Total liabilities and shareholders' equity $13,741 $871 *On July 9, 2008, a business combination (the "Business Combination") by and among Activision, Inc., Sego Merger Corporation, a wholly-owned subsidiary of Activision, Inc., Vivendi S.A. ("Vivendi"), VGAC LLC, a wholly-owned subsidiary of Vivendi ("VGAC") and Vivendi Games, Inc., a wholly-owned subsidiary of VGAC ("Vivendi Games" or "VG") was consummated. As a result of the consummation of the Business Combination, Activision, Inc. was renamed Activision Blizzard, Inc. For accounting purposes, because the Business Combination resulted in Vivendi obtaining control of Activision, Inc. through the acquisition of a majority of common stock of Activision, Inc., the Business Combination is treated as a "reverse acquisition," with Vivendi Games deemed to be the acquirer. As a result, (i) the historical financial statements of the company prior to July 9, 2008 are those of Vivendi Games, Inc. and (ii) the results of Activision, Inc. prior to July 9, 2008 are not included as part of the company's historical financial statements. Further, earnings per share for periods prior to the Business Combination are retrospectively adjusted to reflect the number of split adjusted shares received by Vivendi, former parent of Vivendi Games, Inc. ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES RECONCILIATION OF GAAP NET INCOME TO NON-GAAP NET INCOME (In millions, except earnings (loss) per share data) Cost of Cost Sales- Cost of Software of Sales- Cost Sales- Royalties Intellectual of Net Product and property Sales- Revenues costs Amortization licenses MMOG Quarter ended September 30, 2008 GAAP Measurement $711 $279 $50 $36 $43 Less: Changes in deferred net revenues and cost of sales (a) 12 0 - - - Less: Equity-based compensation (including purchase price accounting related adjustments) (b) - - - - 0 Less: Results of Activision Blizzard's non-core exit operations (c) (6) (1) (1) (0) (0) Less: One time costs related to the Vivendi transaction, integration and restructuring (d) - - - - - Less: Amortization of intangibles and purchase price accounting related adjustments (e) - (8) (24) (22) - Non-GAAP Measurement $717 $270 $25 $14 $43 General Total Sales and Costs Product and Adminis- Restruct- and Development Marketing trative uring Expenses Quarter ended September 30, 2008 GAAP Measurement $200 $142 $94 $61 $905 Less: Changes in deferred net revenues and cost of sales (a) - - - - 0 Less: Equity-based compensation (including purchase price accounting related adjustments) (b) (7) (4) (15) - (26) Less: Results of Activision Blizzard's non-core exit operations (c) (91) (12) (11) - (116) Less: One time costs related to the Vivendi transaction, integration and restructuring (d) - - (17) (61) (78) Less: Amortization of intangibles and purchase price accounting related adjustments (e) - (36) (1) - (90) Non-GAAP Measurement $102 $91 $49 $- $595 Basic Diluted Operating Net Earnings Earnings Income Income (Loss) (Loss) Quarter ended September 30, 2008 (Loss) (Loss) per Share per Share GAAP Measurement $(194) $(108) (0.08) (0.08) Less: Changes in deferred net revenues and cost of sales (a) 12 7 0.01 0.01 Less: Equity-based compensation (including purchase price accounting related adjustments) (b) 26 16 0.01 0.01 Less: Results of Activision Blizzard's non-core exit operations (c) 110 67 0.05 0.05 Less: One time costs related to the Vivendi transaction, integration and restructuring (d) 78 56 0.04 0.04 Less: Amortization of intangibles and purchase price accounting related adjustments (e) 90 54 0.04 0.04 Non-GAAP Measurement $122 $92 0.07 0.07 (a) Reflects the net change in deferred net revenues and deferred cost of sales. (b) Includes expense related to employee stock options, employee stock purchase plan and restricted stock rights under Statement of Financial Accounting Standards No. 123 (revised 2004), "Share-Based Payment." (c) Reflects the results of products and operations from the historical Vivendi Games businesses that the company has begun to exit or wind down. (d) Includes one-time costs related to the business combination with Vivendi Games (including transaction costs, integration costs, and restructuring activities). Restructuring activities includes severance costs, facility exit costs, and balance sheet write down and exit costs from the cancellation of projects. (e) Reflects amortization of intangible assets, and the increase in the fair value of inventories and associated cost of sales, all of which relate to purchase price accounting related adjustments. See explanation above regarding the Company's practice on reporting non-GAAP financial measures. The per share adjustments are presented as calculated, and the GAAP and non-GAAP earnings (loss) per share information is also presented as calculated. The sum of these measures, as presented, may differ due to the impact of rounding. ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES RECONCILIATION OF GAAP NET INCOME TO NON-GAAP NET INCOME (In millions, except earnings (loss) per share data) Cost of Cost Sales- Cost of Software of Sales- Cost Sales- Royalties Intellectual of Net Product and property Sales- Revenues costs Amortization licenses MMOG Quarter ended September 30, 2007 GAAP Measurement $326 $31 $5 $1 $40 Less: Changes in deferred net revenues and cost of sales (a) (31) (3) - - - Less: Equity-based compensation (including purchase price accounting related adjustments) (b) - (1) - - - Less: Results of Activision Blizzard's non-core exit operations (c) (3) - (1) - - Less: One time costs related to the Vivendi transaction, integration and restructuring (d) - - - - - Less: Amortization of intangibles and purchase price accounting related adjustments (e) - - (1) - - Non-GAAP Measurement $292 $27 $3 $1 $40 General Total Sales and Costs Product and Adminis- Restruct- and Development Marketing trative uring Expenses Quarter ended September 30, 2007 GAAP Measurement $117 $46 $29 $- $269 Less: Changes in deferred net revenues and cost of sales (a) - - - - (3) Less: Equity-based compensation (including purchase price accounting related adjustments) (b) (35) (3) (3) - (42) Less: Results of Activision Blizzard's non-core exit operations (c) (23) (10) (9) 2 (41) Less: One time costs related to the Vivendi transaction, integration and restructuring (d) - - - (2) (2) Less: Amortization of intangibles and purchase price accounting related adjustments (e) - - - - (1) Non-GAAP Measurement $59 $33 $17 $- $180 Basic Diluted Operating Net Earnings Earnings Income Income (Loss) (Loss) Quarter ended September 30, 2007 (Loss) (Loss) per Share per Share GAAP Measurement $57 $48 $0.08 $0.08 Less: Changes in deferred net revenues and cost of sales (a) (28) (17) (0.03) (0.03) Less: Equity-based compensation (including purchase price accounting related adjustments) (b) 42 25 0.04 0.04 Less: Results of Activision Blizzard's non-core exit operations (c) 38 22 0.04 0.04 Less: One time costs related to the Vivendi transaction, integration and restructuring (d) 2 1 0.00 0.00 Less: Amortization of intangibles and purchase price accounting related adjustments (e) 1 1 0.00 0.00 Non-GAAP Measurement $112 $80 $0.14 $0.14 (a) Reflects the net change in deferred net revenues and deferred cost of sales. (b) Includes expense related to employee stock options, employee stock purchase plan and restricted stock rights under Statement of Financial Accounting Standards No. 123 (revised 2004), "Share-Based Payment." (c) Reflects the results of products and operations from the historical Vivendi Games businesses that the company has begun to exit or wind down. (d) Includes one-time costs related to the business combination with Vivendi Games (including transaction costs, integration costs, and restructuring activities). Restructuring activities includes severance costs, facility exit costs, and balance sheet write down and exit costs from the cancellation of projects. (e) Reflects amortization of intangible assets, and the increase in the fair value of inventories and associated cost of sales, all of which relate to purchase price accounting related adjustments. See explanation above regarding the Company's practice on reporting non-GAAP financial measures. The per share adjustments are presented as calculated, and the GAAP and non-GAAP earnings (loss) per share information is also presented as calculated. The sum of these measures, as presented, may differ due to the impact of rounding. ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES FINANCIAL INFORMATION For the Quarter Ended September 30, 2008 (Amounts in millions) Quarter Ended September 30, September 30, 2008 2007 Percent % of % of Increase Amount Total Amount Total (Decrease) Geographic Revenue Mix North America $295 41% $147 45% 101% Europe 348 49% 122 37% 185% Asia Pacific 62 9% 54 17% 15% Total core operations net revenues $705 99% $323 99% 118% Non-core operations $6 1% $3 1% 100% Total consolidated net revenues $711 100% $326 100% 118% Segment/Platform Mix Activision and Blizzard: MMOG $271 38% $269 83% 1% Console 272 38% 16 5% 1600% Hand-held 81 11% 7 2% 1057% PC 25 4% 31 9% -19% Total Activision and Blizzard net revenues $649 91% $323 99% 101% Total distribution net revenues $56 8% $- 0% 0% Total net revenues core operations $705 99% $323 99% 118% Non-core operations $6 1% $3 1% 100% Total consolidated net revenues $711 100% $326 100% 118% Nine Months Ended September 30, September 30, 2008 2007 Percent % of % of Increase Amount Total Amount Total (Decrease) Geographic Revenue Mix North America $591 43% $422 47% 40% Europe 627 45% 374 42% 68% Asia Pacific 153 11% 91 10% 68% Total core operations net revenues $1,371 99% $887 99% 55% Non-core operations $16 1% $9 1% 78% Total consolidated net revenues $1,387 100% $896 100% 55% Segment/Platform Mix Activision and Blizzard: MMOG $828 60% $746 83% 11% Console 335 24% 53 6% 532% Hand-held 102 7% 21 2% 386% PC 50 4% 67 8% -25% Total Activision and Blizzard net revenues $1,315 95% $887 99% 48% Total distribution net revenues $56 4% $- 0% 0% Total net revenues core operations $1,371 99% $887 99% 55% Non-core operations $16 1% $9 1% 78% Total consolidated net revenues $1,387 100% $896 100% 55% ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES FINANCIAL INFORMATION For the Quarter Ended September 30, 2008 Nine Nine Quarter Quarter Months Months Ended Ended Ended Ended September September September September 30, 2008 30, 2007 30, 2008 30, 2007 Activision & Blizzard Net Revenues MMOG 42% 84% 63% 84% PC 4% 9% 4% 8% Console 42% 5% 26% 6% Sony PlayStation 3 9% 0% 6% 1% Sony PlayStation 2 9% 4% 6% 3% Microsoft Xbox 360 11% 0% 7% 1% Nintendo Wii 13% 1% 7% 1% Other 0% 0% 0% 0% Hand-held 12% 2% 7% 2% Sony PlayStation Portable 2% 1% 1% 1% Nintendo Dual Screen 10% 1% 6% 1% Nintendo Game Boy Advance 0% 0% 0% 0% Total Activision & Blizzard net revenues 100% 100% 100% 100% ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES For the nine months ended September 30, 2008 and 2007 GAAP to non-GAAP reconciliations Segment Information - Comparable Basis Segment Operating Income (Loss) (amounts in millions) Segments Nine months ended total/ September 30, 2008 Distribu- Non- Conso- Activision(i) Blizzard(ii) tion(iii) Core(iv)Core(v) lidated Segment operating income(loss) (VG Jan. 1-Sept 30, Activision July 10-Sept 30) (61) 447 3 389 (251) 138 Reconciliation to GAAP consolidated operating income (loss) - Net effect from deferral of net revenues and cost of sales (7) - Stock-based compensation (47) - Restructuring expenses (61) - Amortization of intangible assets and purchase price accounting related adjustments (92) - Integration and transaction costs (17) Consolidated operating income(loss) (GAAP) (86) Comparable Presentation Adjustments: Including Activision, Inc. prior periods from July 1 to July 9, 2008 Segment operating income (loss) (10) - 1 (9) (9) Reconciliation to consolidated operating income (loss) - Stock-based compensation (3) - Integration and transaction costs (38) Consolidated operating income(loss) (50) Including Activision, Inc. prior periods for the six months ended June 30, 2008 Segment operating income(loss) 172 - 4 176 176 Reconciliation to consolidated operating income (loss) - Stock-based compensation (29) - Integration and transaction costs (12) Consolidated operating income(loss) 135 Non-GAAP Comparable Basis Segment Operating Income (Loss) 101 447 8 556 Segments Nine months ended total/ September 30, 2007 Distribu- Non- Conso- Activision(i) Blizzard(ii) tion(iii) Core(iv)Core(v) lidated Segment operating income(loss) (VG only) (79) 447 - 368 (86) 282 Reconciliation to GAAP consolidated operating income(loss) - Net effect from deferral of net revenues and cost of sales (67) - Stock-based compensation (77) - Amortization of intangible assets and purchase price accounting related adjustments (3) - Restructuring expenses (1) Consolidated operating income(loss) (GAAP) 134 Comparable Presentation Adjustment: Including Activision, Inc. prior periods for the nine months ended September 30, 2007 Segment operating income(loss) 13 - 1 14 14 Reconciliation to consolidated operating income(loss) - Stock-based compensation (22) Consolidated operating income(loss) (9) Non-GAAP Comparable Basis Segment Operating Income (Loss) (66) 447 1 382 - Change in comparable basis -- nine months ended September 30, '08 vs. '07 46% (i) Activision Publishing ("Activision") -- which consists of the historical business of Activision, Inc. publishing interactive entertainment software and peripherals, and certain studios, assets, and titles previously included in Vivendi Games' historical "Sierra" operating segment. (ii) Blizzard -- which consists of the business of Blizzard Entertainment, Inc. and its subsidiaries publishing of traditional games and online subscription-based games in the MMOG category. (iii) Distribution -- which consists of the distribution of interactive entertainment software and hardware products. (iv) Activision, Blizzard and Distribution are referred to collectively as Activision Blizzard Inc.'s core operations ("Core"). (v) Activision Blizzard's non-core exit operations ("Non-Core") -- which consists of legacy divisions or business units that the company has begun to exit or wind down as part of our restructuring and integration efforts as a result of the business combination. ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES For the three months ended September 30, 2008 and 2007 GAAP to non-GAAP reconciliations Segment Information - Comparable Basis Segment Operating Income (Loss) (amounts in millions) Segments Three months ended total/ September 30, 2008 Distribu- Non- Conso- Activision(i) Blizzard(ii) tion(iii) Core(iv)Core(v) lidated Segment operating income(loss) (VG July 1-Sept 30, Activision July 10-Sept 30) (26) 146 2 122 (110) 12 Reconciliation to GAAP consolidated operating income(loss) - Net effect from deferral of net revenues and cost of sales (12) - Stock-based compensation (26) - Restructuring expenses (61) - Amortization of intangible assets and purchase price accounting related adjustments (90) - Integration and transaction costs (17) Consolidated operating income(loss) (GAAP) (194) Comparable Presentation Adjustment: Including Activision, Inc. prior periods from July 1 to July 9, 2008 Segment operating income(loss) (10) - 1 (9) (9) Reconciliation to consolidated operating income (loss) - Stock-based compensation (3) - Integration and transaction costs (38) Consolidated operating income(loss) (50) Non-GAAP Comparable Basis Segment Operating Income (Loss) (36) 146 3 113 Segments Three months ended total/ September 30, 2007 Distribu- Non- Conso- Activision(i) Blizzard(ii) tion(iii) Core(iv)Core(v) lidated Segment operating income(loss) (VG only) (19) 132 - 113 (40) 73 Reconciliation to GAAP consolidated operating income (loss) - Net effect from deferral of net revenues and cost of sales 28 - Stock-based compensation (43) - Amortization of intangible assets and purchase price accounting related adjustments (1) Consolidated operating income(loss) (GAAP) 57 Comparable Presentation Adjustment: Including Activision, Inc. prior periods for the three months ended September 30, 2007 Segment operating income(loss) (3) - - (3) (3) Reconciliation to consolidated operating income (loss) - Stock-based compensation (7) Consolidated operating income(loss) (10) Non-GAAP Comparable Basis Segment Operating Income (Loss) (22) 132 - 110 - Change in comparable basis -- three months ended September 30, '08 vs. '07 3% (i) Activision Publishing ("Activision") -- which consists of the historical business of Activision, Inc. publishing interactive entertainment software and peripherals, and certain studios, assets, and titles previously included in Vivendi Games' historical "Sierra" operating segment. (ii) Blizzard -- which consists of the business of Blizzard Entertainment, Inc. and its subsidiaries publishing of traditional games and online subscription-based games in the MMOG category. (iii) Distribution -- which consists of the distribution of interactive entertainment software and hardware products. (iv) Activision, Blizzard and Distribution are referred to collectively as Activision Blizzard Inc.'s core operations ("Core"). (v) Activision Blizzard's non-core exit operations ("Non-Core") -- which consists of legacy divisions or business units that the company has begun to exit or wind down as part of our restructuring and integration efforts as a result of the business combination. ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES For the nine months ended September 30, 2008 and 2007 GAAP to non-GAAP reconciliations Segment Information - Comparable Basis Segment Net Revenues (amounts in millions) Segments Nine months ended total/ September 30, 2008 Distribu- Non- Conso- Activision(i) Blizzard(ii) tion(iii) Core(iv)Core(v) lidated Segment net revenues (VG Jan 1-Sept 30, Activision July 10-Sept 30) 457 866 56 1,379 16 1,395 Reconciliation to GAAP consolidated net revenues - Net effect from deferral of net revenues (8) Consolidated net revenues (GAAP) 1,387 Comparable Presentation Adjustments: Including Activision, Inc. prior periods from July 1 to July 9, 2008 Segment net revenues 35 - 18 53 Including Activision, Inc. prior periods for the six months June 30, 2008 Segment net revenues 1,092 - 165 1,257 Non-GAAP Comparable Basis Segment Net Revenues 1,584 866 239 2,689 Segments Nine months ended total/ September 30, 2007 Distribu- Non- Conso- Activision(i) Blizzard(ii) tion(iii) Core(iv)Core(v) lidated Segment net revenues (VG only) 108 856 - 964 9 973 Reconciliation to GAAP consolidated net revenues - Net effect from deferral of net revenues (77) Consolidated net revenues (GAAP) 896 Comparable Presentation Adjustment: Including Activision, Inc. prior periods for the nine months ended September 30, 2007 Segment net revenues 892 - 234 1,126 Non-GAAP Comparable Basis Segment Net Revenues 1,000 856 234 2,090 - Change in comparable basis -- nine months ended September 30, '08 vs. '07 29% (i) Activision Publishing ("Activision") -- which consists of the historical business of Activision, Inc. publishing interactive entertainment software and peripherals, and certain studios, assets, and titles previously included in Vivendi Games' historical "Sierra" operating segment. (ii) Blizzard -- which consists of the business of Blizzard Entertainment, Inc. and its subsidiaries publishing of traditional games and online subscription-based games in the MMOG category. (iii) Distribution -- which consists of the distribution of interactive entertainment software and hardware products. (iv) Activision, Blizzard and Distribution are referred to collectively as Activision Blizzard Inc.'s core operations ("Core"). (v) Activision Blizzard's non-core exit operations ("Non-Core") -- which consists of legacy divisions or business units that the company has begun to exit or wind down as part of our restructuring and integration efforts as a result of the business combination. ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES For the three months ended September 30, 2008 and 2007 GAAP to non-GAAP reconciliations Segment Information - Comparable Basis Net Revenues (amounts in millions) Segments Three months ended total/ September 30, 2008 Distribu- Non- Conso- Activision(i) Blizzard(ii) tion(iii) Core(iv)Core(v) lidated Segment net revenues (VG July 1-Sept 30, Activision July 10-Sept 30) 364 297 56 717 6 723 Reconciliation to GAAP consolidated net revenues - Net effect from deferral of net revenues (12) Consolidated net revenues (GAAP) 711 Comparable Presentation Adjustment: Including Activision, Inc. prior periods from July 1 to July 9, 2008 Segment net revenues 35 - 18 53 Non-GAAP Comparable Basis Segment Net Revenues 399 297 74 770 Segments Three months ended total/ September 30, 2007 Distribu- Non- Conso- Activision(i) Blizzard(ii) tion(iii) Core(iv)Core(v) lidated Segment net revenues (VG only) 43 249 - 292 3 295 Reconciliation to GAAP consolidated net revenues - Net effect from deferral of net revenues 31 Consolidated net revenues (GAAP) 326 Comparable Presentation Adjustment: Including Activision, Inc. prior periods for the three months ended September 30, 2007 Segment net revenues 254 - 64 318 Non-GAAP Comparable Basis Segment Net Revenues 297 249 64 610 - Change in comparable basis -- three months ended September 30, '08 vs. '07 26% (i) Activision Publishing ("Activision") -- which consists of the historical business of Activision, Inc. publishing interactive entertainment software and peripherals, and certain studios, assets, and titles previously included in Vivendi Games' historical "Sierra" operating segment. (ii) Blizzard -- which consists of the business of Blizzard Entertainment, Inc. and its subsidiaries publishing of traditional games and online subscription-based games in the MMOG category. (iii) Distribution -- which consists of the distribution of interactive entertainment software and hardware products. (iv) Activision, Blizzard and Distribution are referred to collectively as Activision Blizzard Inc.'s core operations ("Core"). (v) Activision Blizzard's non-core exit operations ("Non-Core") -- which consists of legacy divisions or business units that the company has begun to exit or wind down as part of our restructuring and integration efforts as a result of the business combination. Activision Blizzard Outlook For the quarter ending December 31, 2008 GAAP to Non-GAAP reconciliation (in millions, except earnings (loss) per share data) Outlook for Quarter Ending December 31, 2008 Net Revenues (GAAP) $1,623.0 Excluding the impacts of: Results of products and operations that the company has begun to exit or wind down -2.0 (a) Change in deferred net revenues 569.0 (b) Non-GAAP Net Revenues $2,190.0 (Loss) Earnings Per Diluted Share (GAAP) $(0.01) Excluding the impacts of: Change in deferred net revenues and cost of sales 0.17 (c) Equity based compensation (including purchase price accounting related adjustments) 0.02 (d) Results of products and operations that the company has begun to exit or wind down 0.01 (e) One time costs related to the Vivendi transaction, integration, and restructuring 0.01 (f) Amortization of intangibles and purchase price accounting related adjustments 0.09 (g) Non-GAAP Earnings Per Diluted Share $0.29 (a) Reflects net revenues from the historical Vivendi Games products and businesses that the company has begun to exit or wind down. (b) Reflects the net change in deferred net revenues. (c) Reflects the net change in deferred net revenues and deferred cost of sales. (d) Reflects equity based compensation costs, including the increase in fair value associated with the historical Activision, Inc. stock awards as part of the purchase price accounting adjustments. Also includes the costs of the Blizzard Entertainment equity plan and Vivendi awards to historical Vivendi Games employees. (e) Reflects the results of products and operations from the historical Vivendi Games businesses that the company has begun to exit or wind down, and exit costs from the cancellation of projects. (f) Includes one-time costs related to the business combination with Vivendi Games (including transaction costs, integration costs, and restructuring activities). Restructuring activities includes severance cost and facility exit costs. (g) Reflects amortization of intangible assets, and the increase in the fair value of inventories and associated cost of sales, all of which relate to purchase price accounting related adjustments. The per share adjustments are presented as calculated, and the GAAP and non-GAAP earnings (loss) per share information is also presented as calculated. The sum of these measures, as presented, may differ due to the impact of rounding.

Activision Blizzard, Inc.

CONTACT: Kristin Southey, Vice President, Investor Relations,
+1-310-255-2635, ksouthey@activision.com, or Maryanne Lataif, Senior Vice
President, Corporate Communications, +1-310-255-2704, mlataif@activision.com,
both of Activision Blizzard, Inc.

Web site: http://www.activision.com/
http://www.activisionblizzard.com/

Company News On-Call: http://www.prnewswire.com/comp/007396.html

Solera Holdings, Inc. Announces First Quarter Fiscal Year 2009 ResultsFirst Quarter Revenue of $143.0 Million, up 15.1%; GAAP Net Income per Share of $0.22, up 266.7%; Company Updates Previously Issued Guidance for Fiscal Year 2009

SAN DIEGO, Nov. 5 /PRNewswire-FirstCall/ -- Solera Holdings, Inc. , the leading global provider of software and services to the automobile insurance claims processing industry, today reported results for the first quarter of fiscal year 2009.

GAAP Results for the Quarter ended September 30, 2008: -- Revenue for the first quarter of fiscal year 2009 was $143.0 million, a 15.1% increase over the prior year first quarter revenue of $124.2 million. After adjusting for changes in foreign currency rates, revenue for the first quarter of fiscal year 2009 increased approximately 9.2% over the prior year first quarter; -- GAAP net income for the first quarter of fiscal year 2009 was $14.3 million, a $10.4 million improvement over the prior year first quarter GAAP net income of $3.9 million; -- GAAP diluted net income per share for the first quarter of fiscal year 2009 was $0.22, a $0.16 per share improvement over the prior year first quarter diluted net income per share of $0.06. Non-GAAP Results for the Quarter ended September 30, 2008: -- Adjusted EBITDA for the first quarter of fiscal year 2009 was $54.5 million, a 31.6% increase over the prior year first quarter Adjusted EBITDA of $41.4 million; -- Adjusted Net Income for the first quarter of fiscal year 2009 was $28.2 million, a 67.5% increase over the prior year first quarter Adjusted Net Income of $16.9 million; -- Adjusted Net Income per diluted share (or cash earnings per diluted share) for the first quarter of fiscal year 2009 was $0.43, a 66.5% increase over the prior year first quarter Adjusted Net Income per diluted share of $0.26.

"The first quarter represented another strong quarter for us, with organic revenue growth of 9.2%, up slightly from the 8.9% organic revenue growth we recorded in the fourth quarter of fiscal 2008. Our Adjusted EBITDA margin of 38.1% in the first quarter was due, in part, to our continued focus on eliminating waste and driving efficiencies in the business, as well as limited expenditures during the quarter on Sarbanes-Oxley compliance efforts, which tend to increase later in our fiscal year," said Tony Aquila, founder, chairman and CEO of Solera Holdings, Inc. "With the recent strength of the US Dollar negatively impacting our revenues, we will continue to focus on further eliminating waste and driving efficiencies to minimize the impact to our bottom line."

Business Statistics for the Quarter ended September 30, 2008: -- EMEA revenue for the first quarter of fiscal year 2009 was $90.3 million, a 21.3% increase over the prior year first quarter revenue of $74.5 million. After adjusting for the change in foreign currency rates, EMEA revenue for the first quarter of fiscal year 2009 increased 12.7% over the prior year first quarter; -- Americas revenue for the first quarter of fiscal year 2009 was $52.7 million, a 5.9% increase over the prior year first quarter revenue of $49.7 million. After adjusting for the change in foreign currency rates, Americas revenue for the first quarter of fiscal year 2009 increased 4.0% over the prior year first quarter; -- Revenue from insurance company customers for the first quarter of fiscal year 2009 was $60.4 million, a 20.7% increase over the $50.1 million in revenue from insurance company customers in the prior year first quarter; -- Revenue from collision repair facility customers for the first quarter of fiscal year 2009 was $53.5 million, a 14.0% increase over the $46.9 million in revenue from collision repair facility customers in the prior year first quarter; -- Revenue from independent assessor customers for the first quarter of fiscal year 2009 was $14.6 million, a 10.5% increase over the $13.2 million in revenue from independent assessor customers in the prior year first quarter; -- Revenue from automotive recycling and other customers for the first quarter of fiscal year 2009 was $14.5 million, a 3.4% increase over the $14.0 million in revenue from automotive recycling and other customers in the prior year first quarter. Fiscal Year 2009 Outlook:

Since our preliminary earnings release on October 21, 2008, the US Dollar has continued to strengthen appreciably against most foreign currencies we use to transact our business. For example, on October 21, 2008, one Euro was equal to approximately $1.34, and on November 4, 2008, one Euro was equal to approximately $1.30. This change from October 21, 2008 to November 4, 2008 represents a strengthening of the US Dollar versus the Euro of approximately 3.0%. Due to the appreciable strengthening of the US Dollar over the last several weeks, we are updating our previously issued outlook for our full fiscal year ending June 30, 2009 as follows:

Previous Outlook Current Outlook ---------------- --------------- Revenues $542 million - $548 million $530 million - $535 million Net Income $45 million - $48 million $45 million - $48 million Adjusted Net Income $103 million - $106 million $103 million - $106 million Adjusted Net Income per diluted share $1.56 - $1.60 $1.56 - $1.60 Adjusted EBITDA $200 million - $205 million $197 million - $202 million

The current fiscal year 2009 outlook above assumes constant exchange rates from those currently prevailing, no acquisitions, and a 28% tax rate to calculate Adjusted Net Income, which we use in order to approximate our long-term effective corporate tax rate (which includes certain benefits from net operating loss carryforwards, tax deductible goodwill and amortization, and a low tax-rate jurisdiction for certain corporate holding companies).

We anticipate that currency exchange rates will have a negative impact on our revenues, but have a positive impact on our interest expense and our intangibles amortization expense for the full fiscal year ending June 30, 2009. If the US Dollar exchange rate versus most major foreign currencies we use to transact our business remains relatively constant throughout the remainder of fiscal year 2009, we anticipate that currency exchange rates will have a negative impact on our quarterly and annual revenues versus the corresponding prior year periods of approximately (12%), (13%), (15%) and (9%) for our fiscal quarters ending December 31, 2008, March 31, 2009 and June 30, 2009, and our fiscal year ending June 30, 2009, respectively. Conversely, if the US Dollar exchange rate versus most major foreign currencies we use to transact our business remains relatively constant throughout the remainder of fiscal year 2009, we anticipate that currency exchange rates will have a positive impact on our quarterly and annual interest expense versus the corresponding prior year periods of approximately 9%, 11%, 13% and 6% for our fiscal quarters ending December 31, 2008, March 31, 2009 and June 30, 2009, and our fiscal year ending June 30, 2009, respectively, and a positive impact on our quarterly and annual intangibles amortization expense versus the corresponding prior year periods of approximately 7% for each of our fiscal quarters ending December 31, 2008, March 31, 2009 and June 30, 2009, and 8% for our fiscal year ending June 30, 2009.

Earnings Conference Call:

We will host our first quarter ended September 30, 2008 earnings call on November 5, 2008 at 5:00 p.m. (Eastern Time). The conference call will be webcast live on the Internet and can be accessed by visiting: http://www.solerainc.com/. A replay will be available on the Solera website until midnight on November 19, 2008. A live audio broadcast of the call will be accessible to the public by calling (866) 356-3093 or for international callers, (617) 597-5381; please enter the following access code when prompted: 506249418. Callers should dial in approximately ten minutes before the call begins.

SOLERA HOLDINGS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE MONTH PERIODS SEPTEMBER 30, 2008 AND 2007 (In thousands, except per share amounts) (Unaudited) ------------------------------------------------------- Three Months Ended September 30, -------------------------------- 2008 2007 -------- -------- Revenues $142,992 $124,181 -------- -------- Cost of revenues: Operating expenses 33,279 32,340 Systems development and programming costs 16,258 15,973 -------- -------- Total cost of revenues (excluding depreciation and amortization) 49,537 48,313 -------- -------- Selling, general and administrative expenses 38,734 33,542 Depreciation and amortization 21,236 22,405 Restructuring charges 471 1,623 Interest expense 11,066 11,162 Other income - net (3,498) (1,156) -------- -------- 68,009 67,576 -------- -------- Income before income tax provision and minority interests 25,446 8,292 Income tax provision 9,009 2,877 Minority interest in net income of consolidated subsidiaries 2,090 1,561 -------- -------- Net income $14,347 $3,854 ======== ======== Net income per share: Basic $0.22 $0.06 ======== ======== Diluted $0.22 $0.06 ======== ======== Weighted average shares used in the calculation of net income per share: Basic 64,365 62,833 ======== ======== Diluted 64,978 64,589 ======== ======== Non-GAAP Financial Measures

We use a number of non-GAAP financial measures that are not intended to be used in lieu of GAAP presentations, but are provided because management believes that they provide additional information with respect to the performance of our fundamental business activities and are also frequently used by securities analysts, investors and other interested parties to facilitate the evaluation of our business on a comparable basis to other companies. The three primary non-GAAP financial measures that we use are Adjusted EBITDA, Adjusted Net Income, and Adjusted Net Income per diluted share. We believe that Adjusted EBITDA, Adjusted Net Income and Adjusted Net Income per diluted share are useful to investors in providing information regarding our operating results and our continuing operations. We rely on Adjusted EBITDA as a primary measure to review and assess the operating performance of our Company and our management team in connection with our executive compensation and bonus plans. Adjusted EBITDA also allows us to compare our current operating results with corresponding prior periods as well as to the operating results of other companies in our industry. We present Adjusted Net Income and Adjusted Net Income per diluted share because we believe both of these measures provide useful information regarding our operating results in addition to our GAAP measures. We believe that Adjusted Net Income and Adjusted Net Income per diluted share provide investors with valuable insight into our profitability exclusive of unusual adjustments, and provide further insight into the cash impact resulting from the different treatments of goodwill for financial reporting and tax purposes.

Adjusted EBITDA, Adjusted Net Income and Adjusted Net Income per diluted share have limitations as analytical tools, and you should not consider them in isolation or as a substitute for net income, earnings per share and other consolidated income statement data prepared in accordance with accounting principles generally accepted in the United States. Because of these limitations, Adjusted EBITDA, Adjusted Net Income, and Adjusted Net Income per diluted share should not be considered as a replacement for net income. We compensate for these limitations by relying primarily on our GAAP results and using Adjusted EBITDA, Adjusted Net Income, and Adjusted Net Income per diluted share as supplemental information.

-- Adjusted EBITDA is a non-GAAP financial measure that represents GAAP net income, excluding interest, taxes, depreciation and amortization, stock-based compensation, restructuring charges, other income - net, and acquisition-related costs. Acquisition-related costs consist of transaction costs, retention-related compensation costs, legal and professional fees, severance costs and other transition costs associated with our acquisition of the Claims Services Group from ADP in April 2006. A reconciliation of our Adjusted EBITDA to GAAP net income the most directly comparable GAAP measure, is provided in the attached table. Three Months Ended September 30, ------------------- 2008 2007 ------- ------ Reconciliation to Adjusted EBITDA Net income $14,347 $3,854 Add: Income tax provision 9,009 2,877 ------- ------ Net income before income tax 23,356 6,731 Add: Depreciation and amortization 21,236 22,405 Add: Interest expense 11,066 11,162 Add: Stock-based compensation expense 1,568 602 Add: Restructuring charges 471 1,623 Add: Other income - net (3,498) (1,156) Add: Acquisition related costs 307 51 ------- ------ Adjusted EBITDA $54,506 $41,418 ------- ------ -- Adjusted Net Income is a non-GAAP financial measure that represents GAAP net income, plus the following items: provision for income taxes, amortization of acquisition-related intangibles, stock-based compensation expense, restructuring charges, other income - net (not including interest income for periods ending after June 30, 2008), and acquisition-related costs. Acquisition-related costs consist of transaction costs, retention-related compensation costs, legal and professional fees, severance costs and other transition costs associated with our acquisition of the Claims Services Group from ADP in April 2006. From this figure, we then subtract a provision for income taxes to arrive at Adjusted Net Income. For periods ended June 30, 2008 and prior, we use a 33% tax rate. For periods ending after June 30, 2008, we use a 28% tax rate. We use this 28% tax rate in order to approximate our long-term effective corporate tax rate, which includes certain benefits from net operating loss carryforwards, tax deductible goodwill and amortization, and a low tax-rate jurisdiction for certain corporate holding companies. A reconciliation of our Adjusted Net Income to GAAP net income, the most directly comparable GAAP measure, is provided in the attached table. -- Adjusted Net Income per diluted share (or cash earnings per diluted share) is a non-GAAP financial measure that represents Adjusted Net Income (as defined above) divided by the number of diluted shares outstanding for the period. A reconciliation of our Adjusted Net Income per diluted share (or cash earnings per diluted share) to GAAP net income per share, the most directly comparable GAAP measure, is provided in the attached table. Three Months Ended September 30, ------------------- 2008 2007 ------- ------- Reconciliation to Adjusted Net Income Net income $14,347 $3,854 Add: Income tax provision 9,009 2,877 ------- ------- Net income before income tax 23,356 6,731 Add: Amortization of acquisition related intangibles 15,807 17,313 Add: Stock-based compensation expense 1,568 602 Add: Restructuring charges 471 1,623 Add: Other income -- not including interest income FY09 (2,289) (1,156) Add: Acquisition related costs 307 51 ------- ------- Adjusted income before income tax provision 39,220 25,164 Less: Assumed provision for income taxes at 28% and 33% rate for September 30, 2008 and September 30, 2007, respectively (10,981) (8,304) ------- ------- Adjusted net income $28,239 $16,860 ======= ======= Adjusted net income per share: Basic $0.44 $0.27 ======= ======= Diluted $0.43 $0.26 ======= ======= Weighted average shares used in the calculation of adjusted net income per share: Basic 64,365 62,833 ======= ======= Diluted 64,978 64,589 ======= ======= SOLERA HOLDINGS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS AS OF SEPTEMBER 30, 2008 AND JUNE 30, 2008 (In thousands, except share amounts) ---------------------------------------------------------- September 30, June 30, 2008 2008 (Unaudited) (Audited) ------------- ---------- Assets Current Assets: Cash and cash equivalents $159,969 $149,311 Accounts receivable, net 91,705 95,843 Other receivables 8,995 9,784 Other current assets 18,121 18,314 Deferred income tax assets 4,285 4,802 ---------- ---------- Total current assets 283,075 278,054 ---------- ---------- Property and equipment, net 46,478 49,243 Other Assets 20,066 22,980 Long-term deferred income tax assets 5,219 5,162 Goodwill 599,975 646,098 Intangible assets, net 298,612 330,218 ---------- ---------- Total assets $1,253,425 $1,331,755 ========== ========== Liabilities and Stockholders' Equity Current Liabilities: Accounts payable $29,514 $32,191 Accrued expenses and other current liabilities 94,150 103,597 Income taxes payable 14,441 12,449 Deferred income tax liabilities 695 842 Current portion of long-term debt 5,984 6,336 ---------- ---------- Total current liabilities 144,784 155,415 ---------- ---------- Long-term debt 588,337 624,570 Other liabilities 30,520 33,475 Long-term deferred income tax liabilities 34,262 36,558 ---------- ---------- Total liabilities $797,903 $850,018 ---------- ---------- Minority interests in consolidated subsidiaries 16,096 15,429 Stockholders' equity: Common Shares, $0.01 par value, 150,000,000 shares authorized; 64,938,889 and 64,816,018 issued and outstanding, as of September 30, 2008 and June 30, 2008, respectively 513,373 510,900 Accumulated deficit (95,810) (110,157) Accumulated other comprehensive income 21,863 65,565 ---------- ---------- Total stockholders' equity 439,426 466,308 ---------- ---------- Total liabilities and stockholders' equity $1,253,425 $1,331,755 ========== ========== SOLERA HOLDINGS, INC. AND SUBSIDIARIES SELECTED STATEMENTS OF CASH FLOWS INFORMATION FOR THE THREE MONTH PERIODS ENDED SEPTEMBER 30, 2008 and 2007 (In thousands) (Unaudited) ------------------------------------------------------- Three Months ended September 30, --------------------- 2008 2007 -------- -------- Net cash provided by operating activities $33,817 $26,224 Net cash used in investing activities (7,559) (5,208) Net cash used in financing activities (1,965) (9,130) Effect of exchange rate changes (13,635) 5,370 -------- -------- Net increase in cash and cash equivalents 10,658 17,256 Cash and cash equivalents, beginning of period 149,311 89,868 -------- -------- Cash and cash equivalents, end of period $159,969 $107,124 ======== ======== Supplemental Cash Flow Information: Cash paid for interest $10,915 $10,405 Cash paid for income taxes $5,339 $3,926 -------- -------- Supplemental Disclosure of Non-cash Investing and Finance Activities: Capital assets financed $329 $660 -------- -------- About Solera

Solera is the leading global provider of software and services to the automobile insurance claims processing industry. Solera is active in over 50 countries across six continents. The Solera companies include Audatex in the United States, Canada, and in more than 45 additional countries, Informex in Belgium, Sidexa in France, ABZ in The Netherlands, Hollander serving the North American recycling market, and IMS providing medical review services. For more information, please refer to the company's website at http://www.solerainc.com/.

Cautions about Forward-Looking Statements:

This press release contains forward-looking statements, including statements about our business outlook for fiscal year 2009, our expectations regarding currency exchange rates and their impact on our financial results, our efforts to minimize the effects of currency exchange rate fluctuations on our financial results and statements about historical results or performance, including statements about our organic growth rates, that may suggest trends for our business. These statements are based on our current expectations, estimates and assumptions and are subject to many risks, uncertainties and unknown future events that could cause actual results to differ materially. Actual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: our reliance on a limited number of customers for a substantial portion of our revenues; unpredictability and volatility of our operating results, which include the volatility associated with foreign currency exchange risks and uncertainty in global economic conditions; effects of competition on our software and service pricing and our business; time and expenses associated with customers switching from competitive software and services to our software and services; rapid technology changes in our industry; costs and possible future losses or impairments relating to our 2006 acquisition of the Claims Services Group from Automatic Data Processing, Inc.; the financial impact of future significant restructuring and severance charges; use of cash to service our debt and effects on our business of restrictive covenants in our debt facility; risks associated with any future acquisitions, joint ventures or similar transactions; our ability to obtain additional financing as necessary to support our operations; effects of changes in or violations by us or our customers of government regulations; our reliance on third-party information for our software and services; effects of system failures or security breaches on our business and reputation; country-specific risks associated with operating in multiple countries; any material adverse impact of current or future litigation on our results or business; and our dependence on a limited number of key personnel. For a discussion of these and other factors that could impact our operations or financial results and cause our results to differ materially from those in the forward-looking statements, please refer to our filings with the Securities and Exchange Commission, particularly our Annual Report on Form 10-K for the Year Ended June 30, 2008. We are under no obligation to (and specifically disclaims any such obligation to) update or alter our forward-looking statements whether as a result of new information, future events or otherwise.

Solera Holdings, Inc.

CONTACT: Kamal Hamid, Investor Relations of Solera Holdings, Inc.,
+1-858-946-1676, kamal.hamid@audatex.com

Web Site: http://www.solerainc.com/

SRA Announces Financial Results for First Quarter of Fiscal Year 2009- Revenue up 8% year over year to $392 million- Diluted EPS of $0.27 including effects of acquisitions and divestitures- $805 million of contract awards- Reaffirming FY09 revenue guidance; reducing earnings guidance

FAIRFAX, Va., Nov. 5 /PRNewswire-FirstCall/ -- SRA International, Inc. , a leading provider of technology and strategic consulting services and solutions to government organizations, today announced operating results for the first quarter of fiscal year (FY) 2009, which ended September 30, 2008.

Revenue for the quarter was $392.4 million, up 8% from $364.1 million in the September 2007 quarter. Operating income for the quarter was $25.3 million, for an operating margin of 6.5%. Net income was $15.4 million, for a net margin of 3.9%. Diluted earnings per share for the quarter were $0.27, down $0.04 year over year.

These first quarter financial results include the effect of the Interface & Control Systems acquisition as of July 2, the Era Corporation acquisition as of July 30, and the Constella Futures divestiture as of September 2.

The first quarter results include a $1.9 million non-operating gain from the sale of Futures, while operating profits from the Futures and Era businesses were lower than expected.

SRA is reaffirming its FY09 annual revenue guidance range of $1.54 billion to $1.60 billion. As a result of political and economic turmoil in Era's international customer set, SRA is anticipating delays in new product orders. SRA has reduced its range of earnings guidance for the year by $0.13 at the high end and $0.18 at the low end. Thus the new guidance for diluted earnings per share is $1.12 to $1.22.

SRA President and CEO Stan Sloane said, "Our first quarter contract awards demonstrate solid progress in the core services business. Our diversified customer portfolio, with strategically valuable exposure to federal civilian agencies including public health customers, gives us confidence in our long- term outlook, particularly in light of yesterday's elections."

"On the product side, particularly in the Era business, we're anticipating delays in signing new orders. This is not unusual in a product business, particularly in light of the global political and economic situation. While we're disappointed with the situation, we continue to have high expectations for our integrated technology and services strategy going forward."

CFO and Executive Vice President of Operations Steve Hughes added, "Our FY09 forecast is essentially unchanged for the core services business, but the delays we are anticipating in our products business would have a substantial effect on the timing of our earnings, leading to the reduction in earnings guidance."

New Business Awards

The Company won new business in the first quarter with potential value of $805 million, if all options are exercised. As of September 30, 2008, the Company's backlog of signed business orders was $4.2 billion, an increase of 3.5% year-over-year. Funded backlog increased 11% year-over-year to $840 million.

Major highlights of competitive contract awards in the quarter include:

-- Small Business Administration (SBA), Loan Management and Accounting System (LMAS). SRA was awarded a ten-year blanket purchase agreement worth up to $250 million to replace and modernize SBA's LMAS system. Three task orders have been awarded to date with a combined value of $26 million.

-- Federal Aviation Administration (FAA), Cyber Security Management Center (CSMC). The FAA awarded SRA a five-year, $56 million contract to support the CSMC, which is established as the focal point for information security incident prevention and analysis for the Department of Transportation. Cybersecurity, information assurance and infrastructure protection are areas of critical and growing need across the Company's customer base.

-- U.S. Air Force, Information Operations/Cyber Exploitation Research (ICER). SRA won a five-year, $49 million contract to continue assessing and enhancing the performance of Air Force personnel in their interaction with cyberspace technology. The Company's team of behavioral scientists and engineers conducts these state-of-the-art activities for the Air Force Research Laboratory.

-- Department of State, Worldwide Refugee Admissions Processing System (WRAPS). The State Department awarded SRA a three-year, $35 million contract to operate and enhance the WRAPS system for refugee applications, reception and placement in the U.S.

-- U.S. Army, Installation Support Modules and Range Facility Management Support System (ISM/RFMSS). SRA won a $29 million recompete contract that combines two Army business process modernization programs. The ISM module provides users with Web-based applications supporting personnel functions, and the RFMSS system schedules and manages firing range operations.

Share Buyback

In the September 2008 quarter, the Company repurchased just under one million shares of SRA stock, deploying about $21.4 million in cash.

Forward Guidance

The Company is reaffirming its revenue guidance and reducing its earnings guidance for FY 2009. The previous range of diluted earnings per share was $1.30 to $1.35. We are reducing FY09 diluted earnings per share guidance to $1.12 to $1.22 per share. The $0.13 to $0.18 reduction primarily results from anticipated delays of order signings in the Era products business. While management continues to expect these contracts to be signed and completed, a portion of the revenue and earnings is unlikely to be recognized in FY 2009. SRA has chosen to take a cautious view given the global economic and political challenges facing the international government customers involved.

The table below represents management's current expectations about the Company's future financial performance, based on information available at this time. The forward guidance in this table does not include any effect for acquisitions that SRA might make in the future.

Fiscal Year Ending Growth from Measure June 30, 2009 FY 2008 to 2009 Revenue $1.54 billion to $1.60 billion 2% to 6% Diluted earnings per share $1.12 to $1.22 -10% to -2% Conference Call

SRA senior management will hold a conference call to discuss these operating results and forward guidance today at 5:00 PM Eastern. Interested parties may listen to the conference call by dialing 888-287-9905 (U.S./Canada) or 706-643-7540 (Other) with passcode 67928778. The conference call will be Webcast simultaneously through a link on the SRA Web site (http://www.sra.com/). A replay of the conference call will be available approximately two hours after the conclusion of the call on November 5, 2008 through November 19, 2008 by dialing 800-642-1687 (U.S./Canada) or 706-645- 9291 (Other) and entering passcode 67928778.

Any statements in this press release about future expectations, plans, and prospects for SRA, including guidance about future financial results and statements about the estimated value of contracts and work to be performed, and other statements containing the words "estimates," "believes," "anticipates," "plans," "expects," "will," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: our dependence on our contracts with federal government agencies, particularly within the U.S. Department of Defense, for a substantial majority of our revenue; our dependence on our GSA schedule contracts and our position as a prime contractor on government-wide acquisition contracts to grow our business; our ability to attract and retain skilled employees; any reductions in or reallocations of the U.S. defense budget or the budgets for civil government agencies; the market price of the company's stock prevailing from time to time; the nature of other investment opportunities presented to the company from time to time; the company's cash flows from operations; and other factors discussed in our latest annual report on Form 10-K filed with the Securities and Exchange Commission on August 28, 2008. In addition, the forward-looking statements included in this press release represent our views as of November 5, 2008. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward- looking statements should not be relied upon as representing our views as of any date subsequent to November 5, 2008.

Condensed Consolidated Statements of Operations (Unaudited) (in thousands, except share and per share amounts) Three Months Ended 30-Sep-08 30-Sep-07 Revenue $392,355 $364,127 Operating costs and expenses: Cost of services 287,822 274,969 Selling, general and administrative 71,208 53,118 Depreciation and amortization 6,878 6,167 Acquired in-process research and development 1,100 - Total operating costs and expenses 367,008 334,254 Operating income 25,347 29,873 Interest expense (1,780) (853) Interest income 772 1,599 Gain on sale of Constella Futures Holding, LLC 1,939 - Income before taxes 26,278 30,619 Provision for income taxes 10,864 12,160 Net income $15,414 $18,459 Earnings per share: Basic $0.27 $0.32 Diluted $0.27 $0.31 Weighted-average shares: Basic 56,606,521 57,287,034 Diluted 57,974,548 59,152,948 Condensed Consolidated Balance Sheets (Unaudited) (in thousands) As of 30-Sep-08 30-Jun-08 Current assets: Cash and cash equivalents $93,419 $229,260 Restricted cash 840 1,194 Accounts receivable, net 360,094 344,974 Inventories 5,102 - Prepaid expenses and other 32,876 64,159 Deferred income taxes, current 9,380 11,544 Total current assets 501,711 651,131 Property, plant and equipment, net 42,084 37,949 Other assets: Goodwill 486,856 395,766 Identified intangibles, net 53,010 36,813 Deferred income taxes, noncurrent 3,704 3,217 Deferred compensation trust 7,042 7,747 Notes receivable and other assets 25,626 3,892 Total other assets 576,238 447,435 Total assets $1,120,033 $1,136,515 Current liabilities: Accounts payable and accrued expenses $137,740 $163,927 Accrued payroll and employee benefits 94,875 99,742 Billings in excess of revenue recognized 23,007 15,111 Other current liabilities 11,821 - Total current liabilities 267,443 278,780 Long-term liabilities: Long-term debt 150,000 150,000 Other long-term liabilities 14,361 14,799 Total long-term liabilities 164,361 164,799 Total liabilities 431,804 443,579 Stockholders' equity 688,229 692,936 Total liabilities and stockholders' equity $1,120,033 $1,136,515 Condensed Consolidated Statements of Cash Flows (Unaudited) (in thousands) Three Months Ended 30-Sep-08 30-Sep-07 Cash flows from operating activities: Net income $15,414 $18,459 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 6,878 6,167 Stock-based compensation 2,696 2,183 Deferred income taxes (456) (4,098) Gain on sale of Constella Futures Holding, LLC (1,939) - Acquired in-process research and development 1,100 - Working capital changes, net of the effect of acquisitions and divestitures (9,593) (1,203) Net cash provided by operating activities 14,100 21,508 Cash flows from investing activities: Capital expenditures (4,042) (1,794) Payments to Spectrum Solutions Group, Inc. shareholders (7,016) - Acquisitions, net of cash acquired (132,194) (185,812) Issuance of notes receivable (17,526) - Proceeds from sale of Constella Futures Holding, LLC 31,846 - Net cash used in investing activities (128,932) (187,606) Cash flows from financing activities: Issuance of common stock 1,557 6,134 Tax benefits of stock option exercises 176 1,462 (Repayments) borrowings under credit facility (986) 50,000 Payment of financing costs - (324) Purchase of treasury stock (21,756) (138) Net cash (used in) provided by financing activities (21,009) 57,134 Net decrease in cash and cash equivalents (135,841) (108,964) Cash and cash equivalents, beginning of period 229,260 212,034 Cash and cash equivalents, end of period $93,419 $103,070 Supplemental disclosures of cash flow information: Cash paid during the period: Interest $1,909 $400 Income taxes $4,074 $7,989 Cash received during the period: Interest $1,058 $1,769 Income taxes $328 $84 Reconciliation Between Total Revenue Growth and Organic Revenue Growth (Unaudited) (in thousands)

Organic revenue growth, as presented, measures revenue growth adjusted for the impact of acquisitions. The Company believes that this non-GAAP financial measure provides useful information because it allows investors to better assess the underlying growth rate of the Company's existing business. This non- GAAP financial measure should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.

Three Months Ended 30-Sep-08 30-Sep-07 % Increase Total Revenue, as reported $392,355 $364,127 7.8% Plus: Revenue from acquired companies for the comparable prior year period - 30,265 Less: Revenue from divested companies for the comparable prior year period (7,231) Organic Revenue $392,355 $387,161 1.3%

SRA International, Inc.

CONTACT: Dave Keffer, Vice President, Investor Relations,
+1-703-502-7731, david_keffer@sra.com; Steve Hughes, CFO and Executive VP,
Operations, +1-703-502-7732, steve_hughes@sra.com

Web site: http://www.sra.com/

Amdocs Limited Reports Quarterly Revenue Growth of 14%Amdocs Reports Record Annual Revenue of $3.16 BillionKey highlights:- Fourth quarter revenue increased to $825 million, in line with guidance- Fourth quarter non-GAAP operating income of $148 million, an increase of 16% over prior year fourth quarter- Fourth quarter diluted non-GAAP EPS, excluding acquisition-related costs, restructuring charges and equity-based compensation expense, net of related tax effects, of $0.54; foreign exchange rate losses reflected in interest expense reduced EPS by $0.08 per share- Diluted GAAP EPS of $0.38 for the quarter- Strong free cash flow of $145 million for the quarter, comprised of cash flow from operations of $178 million less $33 million in net capital expenditures and other

ST. LOUIS, Nov. 5 /PRNewswire-FirstCall/ -- Amdocs Limited today reported that for its fiscal fourth quarter ended September 30, 2008, revenue was $825.3 million, an increase of 13.6% from last year's fourth quarter. Net income on a non-GAAP basis was $117.2 million, or $0.54 per diluted share, compared to non-GAAP net income of $120.7 million, or $0.54 per diluted share, in the fourth quarter of fiscal 2007. Non-GAAP net income excludes amortization of purchased intangible assets, equity-based compensation expenses and restructuring charges of $34.5 million, net of related tax effects, in the fourth quarter of fiscal 2008 and excludes such amortization and compensation expenses of $24.5 million, net of related tax effects, in the fourth quarter of fiscal 2007. The Company's GAAP net income for the fourth quarter of fiscal 2008 was $82.7 million, or $0.38 per diluted share, compared to GAAP net income of $96.2 million, or $0.43 per diluted share, in the prior year's fourth quarter.

"Fiscal 2008 was a good year for Amdocs as we achieved record revenues," said Dov Baharav, chief executive officer of Amdocs Management Limited. "Revenue in the fourth quarter was up 13.6% and non-GAAP operating income rose to $148 million, an increase of 16.4% compared to the prior year fourth quarter. Our earnings per share were adversely impacted by the unprecedented extreme volatility in exchange rates and the rapid strengthening of the U.S. dollar against other currencies, adversely affecting certain balance sheet items denominated in other currencies which reduced fourth quarter earnings per share by $0.08. Absent this, our non-GAAP diluted earnings per share would have been within our guidance range of $0.61 to $0.63."

In the fourth quarter Amdocs had numerous wins across lines of business and geographies. These wins include new business with Comcast, which will deploy customer care, billing and OSS (operational support systems) products based on Amdocs CES 7.5. Another customer in the cable and satellite market has chosen Amdocs Enterprise Product Catalog. Amdocs signed a six-year managed services agreement to support MetroPCS, a provider of advanced wireless services, using Amdocs CES 7.5 capabilities. In Europe, Amdocs was chosen by Debitel, the largest provider of mobile services in Germany, to provide a single billing platform to support its consolidated operations. Vodafone has selected Amdocs OSS fulfillment products for deployments in key European locations. International Telecommunications Company in the Ukraine has selected Amdocs Compact Convergence offering for real-time charging and service delivery across its CDMA network.

Baharav continued, "The financial volatility that we experienced in the fourth quarter is accompanied by economic uncertainty and these factors are impacting our outlook for fiscal 2009. Amdocs expects that revenue for the first quarter of fiscal 2009 will be approximately $785-$810 million. Foreign exchange in particular is a headwind in the first quarter of fiscal 2009, accounting for all of the decrease in forecasted revenue when compared to the fourth quarter of fiscal 2008. We are not seeing cancellations of existing projects and in fact we have signed some significant new deals in the past few weeks. Our growth engines, including emerging markets, cable and satellite and managed services, are right for this environment. However, our ability to forecast the level of new signings later in the fiscal year is impacted by these unprecedented market conditions. While we cannot today commit to guidance for the full year, we are managing our expenses under the assumption that fiscal 2009 revenue could be flat to low single-digit percentage growth for the year with operating margins similar to what we saw in the fourth quarter. This assumes that foreign exchange rates stay relatively stable compared to mid-October levels and that economic conditions do not deteriorate materially from what we see today."

As reported, GAAP EPS per diluted share for the fourth quarter of fiscal 2008 was $0.38. Non-GAAP EPS per diluted share was $0.54 for the quarter, (excluding acquisition-related costs which include amortization of purchased intangible assets, and excluding restructuring charges and equity-based compensation expense, net of related tax effects). The excluded pre-tax restructuring charges amounted to approximately $12 million, reducing GAAP EPS per diluted share by $0.04. The charges consist primarily of severance and other employment related obligations incurred in connection with Amdocs' measures designed to align its operational structure to its expected future growth and to improve efficiency. During the quarter, rapid and large foreign exchange rate changes, especially the strengthening of the U.S. dollar, caused the Company to record foreign exchange rate losses of approximately $17 million net of tax, or $0.08 per diluted share. These losses were primarily due to revaluation of assets and liabilities denominated in other currencies.

For the fiscal year ended September 30, 2008, revenue increased by 11.5% to $3.16 billion. Fiscal 2008 net income on a non-GAAP basis was $499.6 million, or $2.29 per diluted share (excluding acquisition-related costs, which include amortization of purchased intangible assets and in-process research and development write-off, and excluding restructuring charges and equity-based compensation expense, net of related tax effects, of $120.7 million), compared to non-GAAP net income of $473.9 million, or $2.14 per diluted share, in fiscal 2007 (excluding acquisition-related costs, which include amortization of purchased intangible assets, in-process research and development write-off and other, and excluding restructuring charges, and equity-based compensation expense, net of related tax effects, of $108.9 million). The Company's GAAP net income in fiscal 2008 was $378.9 million, or $1.74 per diluted share, compared to GAAP net income of $364.9 million, or $1.65 per diluted share, in fiscal 2007.

Financial Outlook

Amdocs expects that revenue for the first quarter of fiscal 2009 will be approximately $785-$810 million. Foreign exchange in particular is a headwind in the first quarter of fiscal 2009, accounting for all of the decrease in forecasted revenue when compared to the fourth quarter of fiscal 2008. Amdocs expects diluted earnings per share on a non-GAAP basis for the first quarter to be $0.54-$0.57, excluding acquisition-related costs and approximately $0.05-$0.06 per share of equity-based compensation expense, net of related tax effects. Estimated diluted GAAP EPS will not be known until after preliminary purchase price accounting adjustments for the ChangingWorlds Limited acquisition have been determined.

Amdocs will host a conference call on November 5, 2008 at 5 p.m. Eastern Time to discuss the Company's fourth quarter results. The call will be carried live on the Internet via http://www.investorcalendar.com/ and the Amdocs website, http://www.amdocs.com/.

Non-GAAP Financial Measures

This release includes non-GAAP diluted earnings per share and other non-GAAP financial measures, including free cash flow, non-GAAP cost of service, non-GAAP research and development, non-GAAP selling, general and administrative, non-GAAP operating income, non-GAAP income taxes and non-GAAP net income. These non-GAAP measures exclude the following items:

- amortization of purchased intangible assets; - in-process research and development write-off and other; - restructuring charges; - equity-based compensation expense; and - tax effects related to the above.

These non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles. Amdocs believes that non-GAAP financial measures have limitations in that they do not reflect all of the amounts associated with Amdocs' results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Amdocs' results of operations in conjunction with the corresponding GAAP measures.

Amdocs believes that the presentation of non-GAAP diluted earnings per share and other financial measures, including free cash flow, non-GAAP cost of service, non-GAAP research and development, non-GAAP selling, general and administrative, non-GAAP operating income, non-GAAP income taxes and non-GAAP net income, when shown in conjunction with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to its financial condition and results of operations as well as the net amount of cash generated by its business operations after taking into account capital spending required to maintain or expand the business.

For its internal budgeting process and in monitoring the results of the business, Amdocs' management uses financial statements that do not include amortization of purchased intangible assets, in-process research and development write-off and other, restructuring charges, equity-based compensation expense, and related tax effects. Amdocs' management also uses the foregoing non-GAAP financial measures, in addition to the corresponding GAAP measures, in reviewing the financial results of Amdocs. In addition, Amdocs believes that significant groups of investors exclude these non-cash expenses in reviewing its results and those of its competitors, because the amounts of the expenses between companies can vary greatly depending on the assumptions used by an individual company in determining the amounts of the expenses.

Amdocs further believes that, where the adjustments used in calculating non-GAAP diluted earnings per share are based on specific, identified amounts that impact different line items in the Consolidated Statements of Income (including cost of service, research and development, selling, general and administrative, operating income, income taxes and net income), it is useful to investors to understand how these specific line items in the Consolidated Statements of Income are affected by these adjustments.

Please refer to the Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP tables below.

About Amdocs

Amdocs is the market leader in customer experience systems innovation, enabling world-leading service providers to deliver an integrated, innovative and the intentional customer experienceTM -- at every point of service. Amdocs provides solutions that deliver customer experience excellence, combining the software, service and expertise to help its customers execute their strategies and achieve service, operational and financial excellence. A global company with revenue of $3.16 billion in fiscal 2008, Amdocs has more than 17,000 employees and serves customers in more than 50 countries around the world. For more information, visit Amdocs at http://www.amdocs.com/.

This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs growth and business results in future quarters. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general economic conditions, Amdocs ability to grow in the business markets that it serves, Amdocs ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, the Company specifically disclaims any obligation to do so. These and other risks are discussed at greater length in the Company's filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2007 filed on December 3, 2007 and on Form 6-K furnished on February 11, May 6 and August 11, 2008.

AMDOCS LIMITED Consolidated Statements of Income (in thousands, except per share data) Three months ended Twelve months ended September 30, September 30, -------------------- ----------------------- 2008 2007 2008 2007 ------- ------- --------- --------- Revenue: License $41,917 $46,266 $135,487 $159,357 Service 783,360 680,423 3,026,609 2,676,816 ------- ------- --------- --------- 825,277 726,689 3,162,096 2,836,173 Operating expenses: Cost of license 462 869 2,729 3,914 Cost of service 530,428 461,692 2,023,562 1,792,468 Research and development 57,252 55,515 225,492 230,444 Selling, general and administrative 103,171 95,299 404,134 370,194 Amortization of purchased intangible assets 20,385 19,174 86,687 74,959 Restructuring charges, in-process research and development and other (1) 12,116 - 13,896 6,761 ------- ------- --------- --------- 723,814 632,549 2,756,500 2,478,740 ------- ------- --------- --------- Operating income 101,463 94,140 405,596 357,433 Interest (expense) income and other, net (11,842) 13,638 11,955 50,566 ------- ------- --------- --------- Income before income taxes 89,621 107,778 417,551 407,999 Income taxes 6,910 11,535 38,645 43,062 ------- ------- --------- --------- Net income $82,711 $96,243 $378,906 $364,937 ======= ======= ========= ========= Basic earnings per share $ 0.40 $ 0.46 $ 1.83 $ 1.76 ======= ======= ========= ========= Diluted earnings per share (2) $ 0.38 $ 0.43 $ 1.74 $ 1.65 ======= ======= ========= ========= Basic weighted average number of shares outstanding 205,164 209,371 206,590 207,846 ======= ======= ========= ========= Diluted weighted average number of shares outstanding 217,479 224,033 219,606 223,256 ======= ======= ========= ========= (1) Restructuring charges, in-process research and development and other for the twelve months ended September 30, 2008 includes restructuring charges of $12,116 and in-process research and development of $1,780. (2) To reflect the impact of assumed conversion of the convertible notes, $985 and $3,940, representing interest expense and amortization of issuance costs, were added back to net income for the three and twelve months ended September 30, 2008 and 2007, respectively. AMDOCS LIMITED Selected Financial Metrics (in thousands, except per share data) Three months ended Twelve months ended September 30, September 30, ------------------- ------------------------ 2008 2007 2008 2007 -------- -------- ---------- ---------- Revenue $825,277 $726,689 $3,162,096 $2,836,173 Non-GAAP operating income 147,744 126,931 563,669 492,740 Non-GAAP net income 117,208 120,708 499,608 473,871 Non-GAAP diluted earnings per share(1) $ 0.54 $ 0.54 $ 2.29 $ 2.14 Diluted weighted average number of shares outstanding 217,479 224,033 219,606 223,256 (1) To reflect the impact of assumed conversion of the convertible notes, $985 and $3,940, representing interest expense and amortization of issuance costs, were added back to net income for the three and twelve months ended September 30, 2008 and 2007, respectively. AMDOCS LIMITED Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP (in thousands) Three months ended September 30, 2008 ----------------------------------------------------------- Reconciliation items --------------------------------------------- Amortization of Equity purchased based intangible Restructuring compensation Tax Non- GAAP assets charges expense effect GAAP ----------------------------------------------------------- Operating expenses: Cost of license $ 462 $ - $ - $ - $ - $ 462 Cost of service 530,428 - - (5,836) - 524,592 Research and development 57,252 - - (1,088) - 56,164 Selling, general and admini- strative 103,171 - - (6,856) - 96,315 Amortization of purchased intangible assets 20,385 (20,385) - - - - Restructuring charges, in-process research and development and other 12,116 - (12,116) - - - ----------------------------------------------------------- Total operating expenses 723,814 (20,385) (12,116) (13,780) - $677,533 ----------------------------------------------------------- ----------------------------------------------------------- Operating income 101,463 20,385 12,116 13,780 - 147,744 ----------------------------------------------------------- ----------------------------------------------------------- Income taxes 6,910 - - - 11,784 18,694 ----------------------------------------------------------- ----------------------------------------------------------- Net income $ 82,711 $20,385 $12,116 $13,780 $(11,784) $117,208 ----------------------------------------------------------- Three months ended September 30, 2007 ------------------------------------------------------- Reconciliation items ------------------------------------- Amortization of purchased Equity based intangible compensation GAAP assets expense Tax effect Non-GAAP ------------------------------------------------------- Operating expenses: Cost of license $ 869 $ - $ - $ - $ 869 Cost of service 461,692 - (6,504) - 455,188 Research and development 55,515 - (1,475) - 54,040 Selling, general and admini- strative 95,299 - (5,638) - 89,661 Amortization of purchased intangible assets 19,174 (19,174) - - - ----------------------------------------------------- Total operating expenses 632,549 (19,174) (13,617) - 599,758 ----------------------------------------------------- ----------------------------------------------------- Operating income 94,140 19,174 13,617 - 126,931 ----------------------------------------------------- ----------------------------------------------------- Income taxes 11,535 - - 8,326 19,861 ----------------------------------------------------- ----------------------------------------------------- Net income $ 96,243 $19,174 $13,617 $(8,326) $120,708 ----------------------------------------------------- AMDOCS LIMITED Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP (in thousands) Twelve months ended September 30, 2008 ----------------------------------------------------------- Reconciliation items --------------------------------------------- Amortization Restructuring of charges and Equity purchased in-process based intangible research and compensation Tax Non- GAAP assets development expense effect GAAP ----------------------------------------------------------- Operating expenses: Cost of license $ 2,729 $ - $ - $ - $ - $ 2,729 Cost of service 2,023,562 - - (23,547) - 2,000,015 Research and development 225,492 - - (4,714) - 220,778 Selling, general and admini- strative 404,134 - - (29,229) - 374,905 Amortization of purchased intangible assets 86,687 (86,687) - - - - Restructuring charges, in-process research and development and other 13,896 - (13,896) - - - ----------------------------------------------------------- Total operating expenses 2,756,500 (86,687) (13,896) (57,490) - 2,598,427 ----------------------------------------------------------- ----------------------------------------------------------- Operating income 405,596 86,687 13,896 57,490 - 563,669 ----------------------------------------------------------- ----------------------------------------------------------- Income taxes 38,645 - - - 37,371 76,016 ----------------------------------------------------------- ----------------------------------------------------------- Net income $ 378,906 $86,687 $13,896 $57,490 $(37,371) $ 499,608 ----------------------------------------------------------- Twelve months ended September 30, 2007 ----------------------------------------------------------- Reconciliation items ------------------------------------------- Restructuring Amortization charges, of in-process Equity purchased research and based intangible development compensation Tax Non- GAAP assets and other expense effect GAAP ----------------------------------------------------------- Operating expenses: Cost of license $ 3,914 $ - $ - $ - $ - $ 3,914 Cost of service 1,792,468 - - (25,418) - 1,767,050 Research and development 230,444 - - (6,574) - 223,870 Selling, general and admini- strative 370,194 - - (21,595) - 348,599 Amortization of purchased intangible assets 74,959 (74,959) - - - - Restructuring charges, in-process research and development and other 6,761 - (6,761) - - - ----------------------------------------------------------- Total operating expenses 2,478,740 (74,959) (6,761) (53,587) - 2,343,433 ----------------------------------------------------------- ----------------------------------------------------------- Operating income 357,433 74,959 6,761 53,587 - 492,740 ----------------------------------------------------------- ----------------------------------------------------------- Income taxes 43,062 - - - 26,373 69,435 ----------------------------------------------------------- ----------------------------------------------------------- Net income $ 364,937 $74,959 $6,761 $53,587 $(26,373) $ 473,871 ----------------------------------------------------------- AMDOCS LIMITED Condensed Consolidated Balance Sheets (in thousands) As of ---------------------------- September 30, September 30, 2008 2007 ------------ ----------- ASSETS Current assets Cash, cash equivalents and short-term interest-bearing investments $1,244,378 $1,179,280 Accounts receivable, net, including unbilled of $48,264 and $43,870 respectively (*) 573,764 473,847 Deferred income taxes and taxes receivable 84,515 117,623 Prepaid expenses and other current assets 102,930 98,746 ---------- ---------- Total current assets 2,005,587 1,869,496 Equipment, vehicles and leasehold improvements, net 317,081 283,839 Goodwill and other intangible assets, net 1,796,922 1,792,588 Other noncurrent assets (*) 459,473 399,427 ---------- ---------- Total assets $4,579,063 $4,345,350 ========== ========== LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Accounts payable and accruals $ 600,285 $ 592,937 Short-term portion of capital lease obligations and other financing arrangements 1,660 2,055 Deferred revenue (*) 197,851 174,526 Deferred income taxes and taxes payable 30,228 205,960 ---------- ---------- Total current liabilities 830,024 975,478 0.50% Convertible notes 450,000 450,000 Noncurrent liabilities and other 493,848 319,629 Shareholders' equity 2,805,191 2,600,243 ---------- ---------- Total liabilities and shareholders' equity $4,579,063 $4,345,350 ========== ========== (*) Certain amounts in prior period financial statements have been reclassified to conform to the current period presentation.

Amdocs Limited

CONTACT: Thomas G. O'Brien, Treasurer and Vice President of Investor
Relations, Amdocs Limited, +1-314-212-8328, dox_info@amdocs.com

Web Site: http://www.amdocs.com/

NETGEAR to Present at UBS Global Technology and Services Conference

SAN JOSE, Calif., Nov. 5 /PRNewswire-FirstCall/ -- NETGEAR, Inc. , a worldwide provider of technologically advanced, branded networking products, is scheduled to present at the UBS Global Technology and Services Conference in New York. Patrick Lo, Chief Executive Officer, will be presenting.

Date: Tuesday, November 18th Time: 3:15 p.m., EST Place: The Grand Hyatt, New York About NETGEAR, Inc.

NETGEAR (Nasdaq GM: NTGR) designs innovative, branded technology solutions for networking, storage, and security that address the specific needs of small and medium-sized business and home users. The company offers an end-to-end networking product portfolio to enable users to share Internet access, peripherals, files, multimedia content, and applications among multiple computers and other Internet-enabled devices. Products are built on a variety of proven technologies such as wireless, Ethernet and powerline, with a focus on reliability and ease of use. NETGEAR products are sold in over 29,000 retail locations around the globe, and via more than 41,000 value-added resellers. The company's headquarters are in San Jose, California, with additional offices in 19 countries. NETGEAR is an ENERGY STAR(R) partner. More information is available by visiting http://www.netgear.com/ or calling (408) 907-8000.

(C)2008 NETGEAR, Inc. NETGEAR(R) and the NETGEAR logo are trademarks or registered trademarks of NETGEAR, Inc. in the United States and/or other countries. Other brand and product names are trademarks or registered trademarks of their respective holders. Information is subject to change without notice. All rights reserved.

Contacts: Joseph Villalta The Ruth Group (646) 536-7003 jvillalta@theruthgroup.com

NETGEAR, Inc.

CONTACT: Joseph Villalta of The Ruth Group for NETGEAR, Inc.,
+1-646-536-7003, jvillalta@theruthgroup.com

Web Site: http://www.netgear.com/

GSI Commerce to Participate in Two Investor Conferences in November

KING OF PRUSSIA, Pa., Nov. 5 /PRNewswire-FirstCall/ -- Leading e-commerce solutions provider, GSI Commerce Inc. , today announced that Michael R. Conn, GSI's chief financial officer, is scheduled to participate in the Fourth Annual Piper Jaffray Global Internet Summit on Nov. 11 in Laguna Beach, Calif., and also at the Oppenheimer Fourth Annual Mid and Small Cap 'Best Ideas' Conference on Nov. 18 in New York City.

Conn will participate on an e-commerce panel at the Piper Jaffray summit on Tues., Nov. 11 at 2:30 p.m. PST. Due to the panel format of the summit, webcasting will not be available. Conn will present at the Oppenheimer conference on Tues., Nov. 18 at 2:50 p.m. EST. A live audio webcast will be available to the public at http://www.veracast.com/webcasts/opco/bestideas08/16110155.cfm.

About GSI Commerce

GSI Commerce(R) (http://www.gsicommerce.com/) is a leading provider of services that enable e-commerce, multichannel retailing and interactive marketing for large, business-to-consumer (b2c) enterprises in the U.S. and internationally. We deliver customized e-commerce solutions through an e-commerce platform, which is comprised of technology, fulfillment and customer care. We offer each of the platform's components on a modular basis, or as part of an integrated, end-to-end solution. We also offer a full suite of interactive marketing services through two divisions, gsi interactive(sm) and e-Dialog Inc.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements to be made during the presentation, including those in the tape recording, live audio and live Webcast of the presentation, other than statements of historical fact, are or will be forward-looking statements. Actual results might differ materially from what is expressed or implied by these forward-looking statements. Additional information about potential factors that could affect GSI Commerce can be found in its most recent Form 10-K, Form 10-Q and other reports and statements filed by GSI Commerce with the SEC. GSI Commerce expressly disclaims any intent or obligation to update these forward-looking statements.

Contact: GSI Commerce, Inc. Corporate Marketing 610.491.7474 Fax: 610.265.2866 news@gsicommerce.com

GSI Commerce, Inc.

CONTACT: GSI Commerce, Inc., Corporate Marketing, +1-610-491-7474, Fax:
+1-610-265-2866, news@gsicommerce.com

Web Site: http://www.gsicommerce.com/

inTEST Reports Third Quarter 2008 Results

CHERRY HILL, N.J., Nov. 5 /PRNewswire-FirstCall/ -- inTEST Corporation , an independent designer, manufacturer and marketer of semiconductor automatic test equipment (ATE) interface solutions and temperature management products, today announced results for the quarter ended September 30, 2008.

Net revenues for the quarter ended September 30, 2008 were $9.2 million, compared to $11.5 million in the second quarter of 2008. Our net loss for the third quarter of 2008 was $(2.0) million or $(0.22) per diluted share, compared to a net loss of $(1.4) million or $(0.15) per diluted share for the second quarter of 2008. The net loss for the third quarter of 2008 included charges for impairment of long-lived assets of $133,000 or $0.01 per diluted share and restructuring charges of $61,000 or $0.01 per diluted share, while the net loss for the second quarter of 2008 included restructuring charges of $200,000 or $.02 per diluted share. The impairment of long-lived assets is related to the planned closure of our Amerang, Germany manufacturing facility which was previously announced and the restructuring charges are the result of one-time termination benefits related to our workforce reductions.

Robert E. Matthiessen, President and Chief Executive Officer of inTEST commented, "the continuing weakness and turmoil of the macroeconomic environment has caused a significant reduction in capital spending in the semiconductor industry. This, in turn, has resulted in a decrease in our bookings in the third quarter to $8.2 million, compared to $10.0 million in the second quarter of 2008. With that in mind, we have implemented further restructuring to right-size our operations to the anticipated revenue levels of the foreseeable future. This effort will result in additional restructuring costs in the fourth quarter of 2008. On the positive side, we have begun the integration of Sigma Systems Corporation which we acquired on October 6, 2008. Sigma is a manufacturer of thermal platforms, custom configured environmental chambers and other environmental test solutions. Sigma will be joining inTEST in a strategic fit with Temptronic that will greatly expand our product offerings outside the semiconductor market, including the automotive, medical/pharmaceutical, electronic, and aerospace/defense markets. We expect that this expansion of our business into markets outside of semiconductor capital equipment will greatly enhance our pursuit of profitability in the future."

Investor Conference Call / Webcast Details

As previously announced, inTEST will host a conference call today, Wednesday, November 5, 2008 at 5:00 p.m. EST to discuss the Company's third quarter 2008 results and management's current expectations and views of the industry. The call may also include discussions of strategic, operating, product initiatives or developments, or other matters relating to the Company's current or future performance. The conference call will be available at http://www.intest.com/ and by telephone at (201) 689-8560 or toll free at (877) 407-0784. A replay of the call will be available 2 hours following the call through 11:59 p.m. EST on November, 12, 2008 at http://www.intest.com/ and by telephone at (201) 612-7415 or toll free at (877) 660-6853. The account number to access the replay is 3055 and the conference ID number is 300653. A transcript of the conference call will be filed as an exhibit to a Current Report on Form 8-K as soon as practicable after the conference call is completed.

About inTEST Corporation

inTEST Corporation is an independent designer, manufacturer and marketer of ATE interface solutions and temperature management products, which are used by semiconductor manufacturers to perform final testing of integrated circuits (ICs) and wafers. The Company's high-performance products are designed to enable semiconductor manufacturers to improve the speed, reliability, efficiency and profitability of IC test processes. Specific products include positioner and docking hardware products, temperature management systems and customized interface solutions. The Company has established strong relationships with semiconductor manufacturers globally, which it supports through a network of local offices. For more information visit http://www.intest.com/.

CONTACTS:

Hugh T. Regan, Jr., Treasurer and Chief Financial Officer, inTEST Corporation, 856-424-6886, ext 201.

Forward-Looking Statements:

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements do not convey historical information, but relate to predicted or potential future events that are based upon management's current expectations. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. In addition to the factors mentioned in this press release, such risks and uncertainties include, but are not limited to, changes in business conditions and the economy, generally; changes in the demand for semiconductors, generally; changes in the rates of, and timing of, capital expenditures by semiconductor manufacturers; progress of product development programs; increases in raw material and fabrication costs associated with our products; implementation of additional restructuring initiatives; costs associated with compliance with Sarbanes Oxley and other risk factors set forth from time to time in our SEC filings, including, but not limited to, our periodic reports on Form 10-K and Form 10-Q. The Company undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.

SELECTED FINANCIAL DATA (Unaudited) (In thousands, except per share data) Condensed Consolidated Statements of Operations Data: Three Months Ended Nine Months Ended 9/30/2008 9/30/2007 6/30/2008 9/30/2008 9/30/2007 Net revenues $9,159 $13,114 $11,497 $31,960 $37,294 Gross margin 2,962 5,112 4,523 11,938 14,100 Operating expenses: Selling Expense 1,863 2,117 2,223 6,180 6,567 Engineering and product development expense 1,235 1,364 1,417 4,062 4,162 General and administrative expense 1,750 1,953 2,040 6,038 6,128 Impairment of long-lived assets 133 - - 133 - Restructuring and other charges 61 - 200 261 - Operating loss (2,080) (322) (1,357) (4,736) (2,757) Other income 85 148 47 167 395 Loss before income taxes (1,995) (174) (1,310) (4,569) (2,362) Income tax expense 37 78 47 146 197 Net los (2,032) (252) (1,357) (4,715) (2,559) Net loss Per share - basic $(0.22) $(0.03) $(0.15) $(0.51) $(0.28) Weighted average shares outstanding - basic 9,337 9,216 9,324 9,323 9,197 Net loss per share - diluted $(0.22) $(0.03) $(0.15) $(0.51) $(0.28) Weighted average shares outstanding - diluted 9,337 9,216 9,324 9,323 9,197 Condensed Consolidated Balance Sheets Data: As of: 9/30/2008 6/30/2008 12/31/2007 Cash and cash equivalents $9,945 $11,383 $12,215 Trade accounts and notes receivable, net 5,499 6,482 6,034 Inventories 4,447 5,253 5,097 Total current assets 20,720 23,724 24,464 Net property and equipment 1,717 2,005 2,198 Total assets 23,668 26,806 27,723 Accounts payable 2,246 2,657 1,923 Accrued expenses 3,658 3,955 3,545 Total current liabilities 6,215 6,946 5,815 Noncurrent liabilities 307 339 401 Total stockholders' equity 17,146 19,521 21,507

inTEST Corporation

CONTACT: Hugh T. Regan, Jr., Treasurer and Chief Financial Officer,
inTEST Corporation, +1-856-424-6886, ext 201

Web Site: http://www.intest.com/

DEI Holdings Reports 48% Improvement in Operating Income for Third Quarter 2008- Operating income improves 48% to $7.7 million- EPS increases to $0.04 profit from ($0.05) loss- Operating expenses decrease $3 million or 12%- Company announces decision to exit satellite radio

VISTA, Calif., Nov. 5 /PRNewswire-FirstCall/ -- DEI Holdings, Inc. announced today financial results for the third quarter and nine months ended September 30, 2008.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080625/LAW063)

Third Quarter 2008 Financial Highlights Compared with Same Period Last Year:

-- Achieved pro forma net sales of $76.7 million, down 9% from $84.5 million; GAAP net sales were $61.8 million for the third quarter of 2008 -- Gross margin improved by 12 percentage points from 35% to 47% -- Operating expenses decreased $3 million from $24.3 to $21.3 million, a 12% improvement -- Operating income increased 48% from $5.2 to $7.7 million -- Net income was $1.1 million compared with a loss of ($1.3) million -- Adjusted EBITDA totaled $10.7 million compared with $8.3 million, a 29% improvement -- Reported EPS of $0.04 per share, compared with a loss of ($0.05) per share Balance Sheet Highlights: -- Ended the quarter with cash balance of $9.1 million and undrawn available revolver of $50.0 million -- Debt balance decreased by $51 million year-over-year, a 17% improvement -- Company is in full compliance with all of its debt covenants with debt-to-EBITDA leverage ratio at 4.38x at the end of the quarter, meaningfully lower than the 5.25x covenant requirement -- Lower third quarter debt-to-EBITDA ratio triggers fourth quarter 50 basis point interest rate reduction, an improvement to LIBOR +350 Recent Operating and Restructuring Highlights: -- Previously announced restructuring plan on track to achieve $5 million in annualized cost savings -- Launched company-wide supply chain cost reduction initiative and other rightsizing initiatives that are expected to result in additional cost savings in 2009 -- Entered into an agreement with SIRUS XM RADIO outlining key terms for winding down this business by January 31, 2009, the expiration date of the current distribution agreement

"We are pleased with our overall financial performance during the third quarter as we continued to make improvements in many controllable aspects of our business," commented James E. Minarik, DEI Holdings' President and Chief Executive Officer. "Even though our top line performance was negatively impacted by the challenging consumer environment, our improved operating efficiencies and financial discipline enabled us to achieve higher operating income and profitability compared to this period last year, resulting in trailing twelve month adjusted EBITDA of $59 million."

"While it is never an easy decision to exit any market, there are a number of factors that made exiting the satellite radio business the only logical choice for us. These factors include a dramatic drop in demand for aftermarket satellite radio, increasing warranty returns and decreasing margins that we and our customers have experienced throughout 2007 and 2008 on satellite radio products, and the large working capital commitment required for this relatively low margin business. Exiting this business will allow us to return 100% of our focus in 2009 to improving the experience we deliver to our customers and growing our highly profitable security and entertainment businesses."

Kevin Duffy, DEI Holdings' CFO, commented, "Exiting the satellite radio business will not only allow us to focus on our core business, but also increase our ability to pay down debt by recovering the $20 to $25 million of working capital we have committed to this business. Additionally, we are pleased with the terms of our wind-down agreement, as SIRIUS XM or their new partner will be purchasing substantially all of our remaining satellite radio inventory in the first quarter of 2009. They will also be taking full responsibility for all future product returns and warranty costs after January 31, 2009, regardless of when the product was sold."

Mr. Duffy continued, "Looking at the fourth quarter and into 2009, we anticipate that purchases of consumer electronics products will continue to decline significantly. As a result, we are taking every practical action to optimize our sales while preserving our margins. In addition, considering the realities of selling into this uncertain market, as well as our planned exit from the satellite radio receiver business next year, we plan to continue rightsizing our facilities and other overhead in all divisions of the company. Combined with the restructuring initiatives we have already implemented, we are confident that we are as well positioned as possible from an operational perspective to weather the current environment."

Third Quarter 2008 Results

As a reminder, prior to January 1, 2008, the company accounted for sales of SIRIUS XM-related hardware products on a gross basis. The November 2007 amendment to the company's agreement with SIRIUS XM significantly reduced the company's risks in this business. Consequently, in accordance with EITF 99-19, satellite radio revenues are now reported on a net basis calculated as gross amounts billed to customers less (i) amounts paid to suppliers, (ii) rebates and discounts, and (iii) other direct costs. The change in the application of the company's accounting policy did not affect reported gross profit, operating income, or net income. In the first quarter of 2008, the company also began providing gross margins by product category.

Sales

Pro forma net sales in the third quarter of 2008 totaled $76.7 million compared with $84.5 million in the third quarter of 2007, a 9% reduction. With the previously mentioned change in the satellite radio sales reporting method, the company's GAAP net sales were $61.8 million in the third quarter of 2008 compared with $84.5 million in the third quarter of 2007.

Gross Margins

For the third quarter of 2008, gross margins were 46.9% compared with 35.0% for the third quarter of 2007, a 12% margin increase. The increase is attributable to the change in accounting for the company's satellite radio products to a net basis as described above, as well as improvements in the company's security and entertainment and satellite radio margins.

Operating Expenses

Operating expenses decreased $3.0 million, or 12.3%, to $21.3 million in the third quarter of 2008 compared with $24.3 million in the third quarter of 2007 due to a decrease in headcount, marketing and travel expenses, audit and tax compliance fees, and fixed asset write-offs. These decreases were partially offset by $0.6 million in restructuring charges related to workforce rightsizing initiatives as well as higher fuel prices.

Interest Expense

Net interest expense decreased $1.0 million, or 14.9%, to $5.7 million in the third quarter of 2008 compared with $6.7 million in the third quarter of 2007. The decrease was primarily due to lower levels of outstanding debt on the company's senior credit facility in the third quarter of 2008. The company's total debt decreased 16.6%, from $309.9 million as of September 30, 2007 to $258.6 million as of September 30, 2008.

Income

Operating income increased $2.5 million, or 48.1%, to $7.7 million in the third quarter of 2008 compared with $5.2 million in the third quarter of 2007.

Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization), which includes adjustments as defined by the company's lending agreement, increased 29% to $10.7 million in the third quarter of 2008 compared with $8.3 million in the third quarter of 2007. A quantitative reconciliation from the company's GAAP results to its pro forma and adjusted results is provided in the accompanying tables.

The company's net income for the third quarter of 2008 was $1.1 million, or $0.04 per diluted share, compared with a net loss of ($1.3) million, or ($0.05) per diluted share, for the third quarter of 2007.

Third Quarter Product Category Results

The following table provides pro forma sales and margins on a product category basis for the third quarter of 2008 compared with the third quarter of 2007. The following pro forma financial results are reconciled to GAAP results in the accompanying tables.

Security & Entertainment Satellite Radio Total Qtr Ended Qtr EndedQtr Ended Qtr Ended Qtr Ended Qtr Ended 9/30/2008 9/30/2007 9/30/20089/30/2007 9/30/2008 9/30/2007 Pro Forma Results: Net Product Sales $58,753 $65,998 $17,132 $17,463 $75,885 $83,461 Royalty & Other 821 873 17 156 838 1,029 Net Sales $59,574 $66,871 $17,149 $17,619 $76,723 $84,490 Cost of Sales 32,846 37,668 14,879 17,234 47,725 54,902 Gross Profit $26,728 $29,203 $2,270 $385 $28,998 $29,588 % Margin 44.9% 43.7% 13.2% 2.2% 37.8% 35.0% Security & Entertainment

Security and entertainment product sales, net of rebates, decreased $7.2 million, or 11.0%, to $58.8 million in the third quarter of 2008 compared with $66.0 million in the third quarter of 2007. Strong sales of Polk Audio products to Best Buy were more than offset by overall consumer weakness in many regions of the United States.

Gross profit margin on security and entertainment products increased to 44.9% in the third quarter of 2008 compared with 43.7% in the third quarter of 2007. The gross margin rate increase was primarily attributable to lower warranty returns costs and strategic price increases during 2008.

Satellite Radio

Satellite radio pro forma product sales, net of rebates and sales returns, for the third quarter of 2008 totaled $17.1 million, a 2.3% decrease compared with $17.5 million for the third quarter of 2007. Satellite radio pro forma gross product sales decreased 34% during the third quarter of 2008 compared with the third quarter of 2007. This decrease is partially attributable to a company-initiated plan that reduced sales to Sirius.com, as these sales carried lower than average margins and required high working capital. Satellite radio sales also decreased to other major retailers as consumer demand for aftermarket satellite radio was lower in the third quarter of 2008 compared with the third quarter 2007.

With the implementation of the previously mentioned net reporting accounting policy, GAAP satellite radio sales, net of $14.9 million in direct costs, totaled $2.3 million for the third quarter of 2008.

On a pro forma basis, gross profit margin on satellite radio sales increased from 2.2% in the third quarter of 2007 to 13.2% in the third quarter of 2008. The increase in our margin was primarily attributable to an improvement in the company's warranty and sales returns experience.

Balance Sheet and Cash Flows

The company generated $17.6 million of operating cash flow for the first nine months of 2008 and ended the quarter with $9.1 million in cash and an undrawn revolver of $50.0 million. At the end of the third quarter of 2008, total debt was $258.6 million, a decrease of $51.3 million, or 16.6%, compared with total debt of $309.9 million as of September 30, 2007, which included $7.0 million drawn on the revolver.

Conference Call and Webcast

DEI Holdings will host a conference call and webcast to discuss its financial results today at 5:00 p.m. Eastern Time. The conference call may include forward-looking statements. This call will be webcast live on the Investor Relations section of the company's website at http://www.deiholdings.com/ and will be archived and available for replay approximately three hours after the live event. The audio replay will be available through 11:59 p.m., November 19, 2008. The company's financial results are also available online at http://www.deiholdings.com/.

To participate in the conference call, investors should dial 800-762-8795 ten minutes prior to the call. International callers should dial 480-629- 9031. A telephone replay of the call will be available through 11:59 p.m. Eastern Time on November 19, 2008 by calling 800-406-7325 (passcode: 3933006). International callers should dial 303-590-3030 and use the same passcode.

About DEI Holdings

Headquartered in Southern California, DEI Holdings, Inc. is the parent company of some of the most respected brands in the consumer electronics industry. DEI Holdings is the largest designer and marketer in North America of premium home theater loudspeakers (sold under the Polk Audio(R) and Definitive Technology(R) brand names), and consumer-branded vehicle security and remote start systems (sold under the Viper(R), Clifford(R), Python(R), Autostart(R) and other brand names). DEI Holdings is also a supplier of mobile audio sold principally under both the Polk Audio and Orion brand names. DEI Holdings markets its broad portfolio of products through many channels including leading national retailers and specialty chains throughout North America and around the world. Founded in 1982, the company has operations in California, Maryland, Canada, Europe, and Asia. For more information, please visit http://www.deiholdings.com/.

Forward-Looking Statements

Certain statements in this news release that are not historical fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements typically are identified by the use of terms such as "may," "should," "might," "believe," "expect," "anticipate," "estimate," and similar words, although some may be expressed differently. Forward-looking statements in this release include, but are not limited to, statements as to expected savings from the company's restructuring initiatives and the company's ability to recover working capital and pay down debt. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results of DEI Holdings to be materially different from historical results or from any results expressed or implied by such forward-looking statements. These factors include competition in the consumer electronics industry, development of new products and changing demand of customers, reliance on certain key customers, adverse developments affecting SIRIUS XM Satellite Radio, decline in consumer spending, reliance on certain manufacturers and their ability to maintain satisfactory delivery schedules, disruption in supply chain, shortages of components and materials, economic risks associated with changes in social, political, regulatory, and economic conditions in the countries where the company's products are manufactured, quality installation of products by customers, significant product returns or product liability claims, compliance with various state and local regulations, risks with international operations, impairment of goodwill and intangible assets, claims related to intellectual property, ability to service debt obligations, restrictive terms of the company's senior secured credit facility, vulnerability to increases in interest rates, disruption in distribution centers, ability to raise additional capital if needed, dependence on senior management, ability to realize on investments made in the business, and integration of acquired businesses. Certain of these factors, as well as various additional factors, are discussed from time to time in the reports filed by DEI Holdings with the Securities and Exchange Commission, including the Form 10-K for the year ended December 31, 2007. DEI Holdings disclaims any intent or obligation to update these forward-looking statements.

DEI HOLDINGS, INC. Consolidated Statements of Income (unaudited, in thousands, except per share amounts) GAAP Pro Forma Quarter Quarter Quarter Quarter Ended Ended Ended Ended 9/30/2008 9/30/2007 9/30/2008 9/30/2007 Sales: Security and entertainment product sales, net $58,753 $65,998 $58,753 $65,998 Satellite radio product sales, net 2,253 17,463 17,132 17,463 Net product sales 61,006 83,461 75,885 83,461 Royalty and other revenue 838 1,029 838 1,029 Net Sales 61,844 84,490 76,723 84,490 Cost of sales: Cost of security and entertainment sales 32,846 37,668 32,846 37,668 Cost of satellite radio sales - 17,234 14,879 17,234 Total cost of sales 32,846 54,902 47,725 54,902 Gross profit 28,998 29,588 28,998 29,588 Operating expenses: Selling, general and administrative 21,346 24,339 21,346 24,339 Provision for litigation - - - - Total operating expenses 21,346 24,339 21,346 24,339 Income from operations 7,652 5,249 7,652 5,249 Other income (expense): Interest expense, net (5,713) (6,659) (5,713) (6,659) Income before provision for income taxes 1,939 (1,410) 1,939 (1,410) Provision for (benefit from) income taxes 845 (158) 845 (158) Net income $1,094 $(1,252) $1,094 $(1,252) Net income per common share: Basic $0.04 $(0.05) $0.04 $(0.05) Diluted $0.04 $(0.05) $0.04 $(0.05) Weighted average number of shares: Basic 25,803 25,904 25,803 25,904 Diluted 25,812 25,904 25,812 25,904

This earnings release includes information presented on a pro forma basis. These pro forma financial measures are considered "non-GAAP" financial measures within the meaning of SEC Regulation G. The company believes that this presentation of pro forma results provides useful information to both management and investors by excluding specific revenue, costs and expenses that the company believes are not indicative of core operating results. Additionally, in accordance with GAAP, beginning in the first quarter of 2008, the company reported satellite radio sales on a net basis, but has not recast prior period satellite radio sales as the change in presentation is not considered a change in accounting principle but is the application of the same principle to different facts and circumstances. For comparison and discussion purposes, the company provides sales and cost information on a gross basis. Although not in accordance with GAAP, the company believes this information is informative as to the level of its satellite radio business, provides increased transparency, and presents satellite radio sales on a basis comparable to prior periods and to security and entertainment sales. The presentation of this additional information should not be considered in isolation or as a substitute for results prepared in accordance with generally accepted accounting principles. The reconciliations set forth below are provided in accordance with Regulation G and reconcile the pro forma financial measures with the most directly comparable GAAP-based financial measures.

DEI HOLDINGS, INC. Reconciliation of GAAP to Pro Forma Net Sales, Cost of Sales, and Gross Profit (unaudited, in thousands) As Reclass As Reported -ification Pro Forma Reported Quarter Quarter Quarter Quarter Ended Ended Ended Ended 9/30/2008 9/30/2008 9/30/2008 9/30/2007 Sales: Security and entertainment product sales, net $58,753 $- $58,753 $65,998 Satellite radio product sales, net 2,253 14,879 17,132 17,463 Net product sales 61,006 14,879 75,885 83,461 Royalty and other revenue related to S&E products 821 - 821 873 Other revenues related to satellite radio products 17 - 17 156 Royalty and other revenue 838 - 838 1,029 Net Sales 61,844 14,879 76,723 84,490 Cost of sales: Cost of security and entertainment sales 32,846 - 32,846 37,668 Cost of satellite radio sales - 14,879 14,879 17,234 Total cost of sales 32,846 14,879 47,725 54,902 S&E gross profit, including royalty and other revenue 26,728 - 26,728 29,203 Satellite radio gross profit, including other revenue 2,270 - 2,270 385 Consolidated gross profit $28,998 $- $28,998 $29,588 Security and entertainment gross profit margin 44.9% 44.9% 43.7% Satellite radio gross profit margin n/a 13.2% 2.2% Consolidated gross profit margin 46.9% 37.8% 35.0% DEI HOLDINGS, INC. Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA (Note 1) (unaudited, in thousands) Quarter Quarter Ended Ended 9/30/2008 9/30/2007 Net income (loss) $1,094 $(1,252) Adjustments: Interest expense, net 5,713 6,659 Depreciation 928 662 Amortization 1,640 1,818 Taxes 845 (158) EBITDA (Note 1) $10,220 $7,729 Non-cash stock-based compensation 305 242 Other 126 333 Adjusted EBITDA (Note 1) $10,651 $8,304

Note 1: EBITDA (earnings before interest, income taxes, depreciation, and amortization, including goodwill and intangible asset impairment) is not a measure of financial performance under generally accepted accounting principles, or GAAP, but is used by some investors to determine a company's ability to service or incur indebtedness. Adjusted EBITDA is presented as it includes other adjustments permitted under the company's lending agreement for covenant calculations. The presentation of this additional information should not be considered in isolation or as a substitute for results prepared in accordance with generally accepted accounting principles. The reconciliation set forth above is provided in accordance with Regulation G and reconciles EBITDA and adjusted EBITDA with the most directly comparable GAAP-based financial measure. EBITDA is not calculated in the same manner by all companies and accordingly is not necessarily comparable to similarly entitled measures of other companies and may not be an appropriate measure for performance relative to other companies. EBITDA is not intended to represent and should not be considered more meaningful than, or as an alternative to, measures of operating performance as determined in accordance with GAAP.

DEI HOLDINGS, INC. Consolidated Statements of Income (unaudited, in thousands, except per share amounts) GAAP Pro Forma YTD YTD YTD YTD 9/30/2008 9/30/2007 9/30/2008 9/30/2007 Sales: Security and entertainment product sales, net $166,759 $185,292 $166,759 $185,292 Satellite radio product sales, net 9,511 60,637 55,423 60,637 Net product sales 176,270 245,929 222,182 245,929 Royalty and other revenue 4,995 3,224 4,995 3,224 Net Sales 181,265 249,153 227,177 249,153 Cost of sales: Cost of security and entertainment sales 91,321 105,015 91,321 104,073 Cost of satellite radio sales - 54,537 45,912 54,537 Total cost of sales 91,321 159,552 137,233 158,610 Gross profit 89,944 89,601 89,944 90,543 Operating expenses: Selling, general and administrative 69,724 69,338 69,724 69,338 Provision for litigation - 5,074 - (420) Total operating expenses 69,724 74,412 69,724 68,918 Income from operations 20,220 15,189 20,220 21,625 Other income (expense): Interest expense, net (17,952) (20,352) (17,952) (20,352) Income (loss) before provision for income taxes 2,268 (5,163) 2,268 1,273 Provision for (benefit from) income taxes 1,757 (1,154) 1,757 1,324 Net income (loss) $511 $(4,009) $511 $(51) Net income (loss) per common share: Basic $0.02 $(0.15) $0.02 $(0.00) Diluted $0.02 $(0.15) $0.02 $(0.00) Weighted average number of shares: Basic 25,830 25,929 25,830 25,929 Diluted 25,845 25,929 25,845 25,929 DEI HOLDINGS, INC. Pro Forma Sales and Margins by Product Category (unaudited, in thousands) Security & Entertainment Satellite Radio Total YTD YTD YTD YTD YTD YTD 9/30/2008 9/30/2007 9/30/2008 9/30/2007 9/30/2008 9/30/2007 Pro Forma Results: Net Product Sales $166,759 $185,292 $55,423 $60,637 $222,182 $245,929 Royalty & Other 4,861 2,917 134 307 4,995 3,224 Net Sales $171,620 $188,209 $55,557 $60,944 $227,177 $249,153 Cost of Sales 91,321 105,015 45,912 54,537 137,233 159,552 Gross Profit $80,299 $83,194 $9,645 $6,407 $89,944 $89,601 % Margin 46.8% 44.2% 17.4% 10.5% 39.6% 36.0%

This earnings release includes information presented on a pro forma basis. These pro forma financial measures are considered "non-GAAP" financial measures within the meaning of SEC Regulation G. The company believes that this presentation of pro forma results provides useful information to both management and investors by excluding specific revenue, costs and expenses that the company believes are not indicative of core operating results. Additionally, in accordance with GAAP, beginning in the first quarter of 2008, the company reported satellite radio sales on a net basis, but has not recast prior period satellite radio sales as the change in presentation is not considered a change in accounting principle but is the application of the same principle to different facts and circumstances. For comparison and discussion purposes, the company provides sales and cost information on a gross basis. Although not in accordance with GAAP, the company believes this information is informative as to the level of its satellite radio business, provides increased transparency, and presents satellite radio sales on a basis comparable to prior periods and to security and entertainment sales. The presentation of this additional information should not be considered in isolation or as a substitute for results prepared in accordance with generally accepted accounting principles. The reconciliations set forth below are provided in accordance with Regulation G and reconcile the pro forma financial measures with the most directly comparable GAAP-based financial measures.

DEI HOLDINGS, INC. Reconciliation of GAAP to Pro Forma Net Sales, Cost of Sales, and Gross Profit (unaudited, in thousands) As Reclass As Reported -ification Pro Forma Reported YTD YTD YTD YTD 9/30/2008 9/30/2008 9/30/2008 9/30/2007 Sales: Security and entertainment product sales, net $166,759 $- $166,759 $185,292 Satellite radio product sales, net 9,511 45,912 55,423 60,637 Net product sales 176,270 45,912 222,182 245,929 Royalty and other revenue related to S&E products 4,861 - 4,861 2,917 Other revenues related to satellite radio products 134 - 134 307 Royalty and other revenue 4,995 - 4,995 3,224 Net Sales 181,265 45,912 227,177 249,153 Cost of sales: Cost of security and entertainment sales 91,321 - 91,321 105,015 Cost of satellite radio sales - 45,912 45,912 54,537 Total cost of sales 91,321 45,912 137,233 159,552 S&E gross profit, including royalty and other revenue 80,299 - 80,299 83,194 Satellite radio gross profit, including other revenue 9,645 - 9,645 6,407 Consolidated gross profit $89,944 $- $89,944 $89,601 Security and entertainment gross profit margin 46.8% 46.8% 44.2% Satellite radio gross profit margin n/a 17.4% 10.5% Consolidated gross profit margin 49.6% 39.6% 36.0% DEI HOLDINGS, INC. Reconciliation of GAAP to Pro Forma Net Income (Loss) (unaudited, in thousands, except per share amounts) YTD YTD 9/30/2008 9/30/2007 GAAP net income (loss) $511 $(4,009) Adjustments: Gross profit reduction from purchase accounting - 942 Patent litigation costs - 5,494 Tax effects of adjustments - (2,478) Pro forma net income (loss) $511 $(51) GAAP net income (loss) per common share, diluted $0.02 $(0.15) Pro forma net income (loss) per common share, diluted $0.02 $(0.00) Diluted weighted average number of shares (GAAP and pro forma) 25,830 25,929 DEI HOLDINGS, INC. Reconciliation of GAAP Net Income (Loss) to Pro Forma and Adjusted EBITDA (Note 1) (unaudited, in thousands) YTD YTD 9/30/2008 9/30/2007 Net income (loss) $511 $(4,009) Adjustments: Interest expense, net 17,952 20,352 Depreciation 2,363 1,916 Amortization 4,930 5,231 Taxes 1,757 (1,154) EBITDA (Note 1) $27,513 $22,336 Gross profit reduction from purchase accounting - 942 Patent litigation costs - 5,494 Pro forma EBITDA (Note 1) $27,513 $28,772 Non-cash stock-based compensation 935 657 Other 1,447 227 Adjusted EBITDA (Note 1) $29,895 $29,656

Note 1: EBITDA (earnings before interest, income taxes, depreciation, and amortization, including goodwill and intangible asset impairment) is not a measure of financial performance under generally accepted accounting principles, or GAAP, but is used by some investors to determine a company's ability to service or incur indebtedness. The company presents pro forma EBITDA as it believes that pro forma results provide useful information to both management and investors by excluding specific revenue, costs and expenses that the company believes are not indicative of core operating results. Adjusted EBITDA is presented as it includes other adjustments permitted under the company's lending agreement for covenant calculations. The presentation of this additional information should not be considered in isolation or as a substitute for results prepared in accordance with generally accepted accounting principles. The reconciliation set forth above is provided in accordance with Regulation G and reconciles EBITDA, pro forma EBITDA, and adjusted EBITDA with the most directly comparable GAAP-based financial measure. EBITDA is not calculated in the same manner by all companies and accordingly is not necessarily comparable to similarly entitled measures of other companies and may not be an appropriate measure for performance relative to other companies. EBITDA is not intended to represent and should not be considered more meaningful than, or as an alternative to, measures of operating performance as determined in accordance with GAAP.

DEI HOLDINGS, INC. Condensed Consolidated Balance Sheets (in thousands) September 30, December 31, 2008 2007 ASSETS Cash and cash equivalents $9,052 $4,760 Accounts receivable, net 58,679 77,366 Inventories 79,109 64,219 Other current assets 16,267 22,936 Total current assets 163,107 169,281 Property and equipment, net 7,473 7,353 Intangible assets, net 151,736 157,265 Other assets 7,001 6,535 Total assets $329,317 $340,434 LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT) Accounts payable $48,636 $44,814 Accrued expenses 22,738 28,527 Current portion of notes payable 667 2,669 Total current liabilities 72,041 76,010 Revolving loan - 4,000 Senior notes, less current portion 257,924 260,257 Deferred tax liability 10,114 8,864 Other liabilities 3,284 5,201 Total liabilities 343,363 354,332 Shareholders' equity (deficit) (14,046) (13,898) Total liabilities and shareholders' equity (deficit) $329,317 $340,434

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20080625/LAW063
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PRN Photo Desk, photodesk@prnewswire.com DEI Holdings, Inc.

CONTACT: Kevin Duffy, Chief Financial Officer of DEI Holdings, Inc.,
+1-760-598-6200, or John Mills of Integrated Corporate Relations,
+1-310-954-1100, for DEI Holdings, Inc.

Web site: http://www.deiholdings.com/

Ingram Micro Executives to Present at Upcoming Investor Events

SANTA ANA, Calif., Nov. 5 /PRNewswire-FirstCall/ -- Ingram Micro Inc. , the world's largest technology distributor, announced today that members of its executive team are scheduled to present at the following investor conferences.

-- Tuesday, Nov. 18, 2008 Raymond James 2008 IT Supply Chain Conference Sheraton New York Hotel & Towers - New York, N.Y. 10:10 a.m. ET Presenters: Gregory M. Spierkel, chief executive officer William D. Humes, executive vice president and CFO -- Wednesday, Nov. 19, 2008 UBS Global Technology & Services Conference Grand Hyatt - New York, N.Y. 9:30 a.m. ET William D. Humes, executive vice president and CFO

To access the live audio webcasts of the presentations, visit the Investor Relations page of http://www.ingrammicro.com/. The archived versions will be available for approximately one week following the event.

About Ingram Micro Inc.

As a vital link in the technology value chain, Ingram Micro creates sales and profitability opportunities for vendors and resellers through unique marketing programs, outsourced logistics services, technical support, financial services, and product aggregation and distribution. The company serves more than 150 countries and is the only global broad-based IT distributor with operations in Asia. Visit http://www.ingrammicro.com/.

(C) 2008 Ingram Micro Inc. All rights reserved. Ingram Micro and the registered Ingram Micro logo are trademarks used under license by Ingram Micro Inc.

Ingram Micro Inc.

CONTACT: Investors, Ria Marie Carlson, +1-714-382-4400,
ria.carlson@ingrammicro.com, or Kay Leyba, +1-714-382-4175,
kay.leyba@ingrammicro.com, or Media, Marie Connell, +1-714-382-2009,
marie.connell@ingrammicro.com, or Rekha Parthasarathy, +1-714-382-1319,
rekha@ingrammicro.com, all of Ingram Micro Inc.

Web site: http://www.ingrammicro.com/

Coherent, Inc. Reports Fourth Fiscal Quarter Results

SANTA CLARA, Calif., Nov. 5 /PRNewswire-FirstCall/ -- Coherent, Inc. today announced financial results for its fourth fiscal quarter ended September 27, 2008, posting net sales of $142.0 million and net income, on a U.S. generally accepted accounting principles (GAAP) basis, of $4.1 million, or $0.17 per diluted share, compared to net sales of $158.9 million and a net loss of $1.3 million, or $(0.04) per diluted share, for the fourth quarter of fiscal 2007.

Net income for the fourth quarter of fiscal 2008 included an after tax charge of $0.2 million related to litigation resulting from our internal stock option investigation ($0.01 per diluted share), after tax stock-related compensation expense of $1.3 million ($0.05 per diluted share) and restructuring expense of $2.6 million, net of tax ($0.11 per diluted share). Excluding these charges, non-GAAP net income was $8.2 million or $0.34 per diluted share. Net income for the fourth quarter of fiscal 2007 included an after tax charge of $1.7 million ($0.05 per diluted share) of internal stock option investigation costs, after tax stock-related compensation expense of $0.9 million ($0.03 per diluted share), $12.6 million, net of tax, of capital loss on the sale of our Auburn facility ($0.40 per diluted share), the write-off of unamortized costs related to our previous debt issuance of $2.6 million, net of tax ($0.08 per diluted share), a capital gain of $3.6 million, net of tax, on the sale of our Condensa facility ($0.11 per diluted share) and $0.7 million of gain, net of tax, related to the sale of substantially all of the assets of CIOL ($0.02 per diluted share). Excluding these charges and credits, non-GAAP net income for the fourth quarter of fiscal 2007 was $12.2 million or $0.39 per diluted share.

Net sales for the third quarter of fiscal 2008 were $157.0 million and net income, on a GAAP basis, was $8.4 million ($0.35 per diluted share). Net income for the third quarter of fiscal 2008 included an after tax charge of $0.9 million related to litigation resulting from our internal stock option investigation ($0.04 per diluted share), after tax stock-related compensation expense of $2.0 million ($0.08 per diluted share) and restructuring expense of $1.4 million, net of tax ($0.06 per diluted share). Excluding these charges, non-GAAP net income for the third quarter of fiscal 2008 was $12.7 million or $0.53 per diluted share.

Orders received during the three months ended September 27, 2008 of $141.5 million decreased 13.6% from the same prior year period and decreased by 5.1% compared to orders received in the immediately preceding quarter. The book-to-bill ratio was 1.0, resulting in backlog of $183.5 million at September 27, 2008 compared to a backlog of $188.6 million at June 28, 2008 and a backlog of $188.4 million at September 29, 2007.

For the fiscal year ended September 27, 2008, Coherent posted net sales of $599.3 million and net income of $23.4 million ($0.83 per diluted share) compared to the prior year sales of $601.2 million and net income of $16.0 million ($0.50 per diluted share). Orders received for the fiscal year ended September 27, 2008 were $594.0 million, compared to $591.0 million in orders received for the fiscal year ended September 29, 2007.

"An unprecedented set of macroeconomic events led to a disappointing fourth quarter, especially within the microelectronics segment. While there will be ample debate over the timing of a market recovery, we have taken a number of actions to help Coherent weather and emerge from the current environment with a strong product portfolio, income statement and balance sheet. In particular, we continue to drive operational efficiency through our footprint strategy and recent workforce reductions, which are very prudent given uncertain market conditions. We are also pursuing market share gains through the introduction of highly differentiated products, such as the Chameleon(TM) Vision(TM). Launched in August 2008, the Vision(TM) delivers unrivaled performance for biological imaging in a compact, user friendly package," said John Ambroseo, Coherent's President and CEO.

At September 27, 2008, Coherent's cash, cash equivalents and short term investments totaled $218.1 million, representing a decrease of $143.7 million compared to September 29, 2007. The decrease includes the use of approximately $228 million for the repurchase of Coherent common stock under the previously announced tender offer ended March 19, 2008.

"We remain fully committed to expanding EBITDA as evidenced by our recent announcement regarding the consolidation of our Munich facility into our Gottingen site. Coupled with our planned exit from our Auburn, California facility, the annual benefits from these two footprint moves will be $8-10 million with the full run-rate savings beginning in July 2009. While these are key elements to EBITDA expansion, revenue and mix are equally important. Based upon current market conditions, it will be difficult to achieve the revenue and product mix assumptions in the original EBITDA plan. Accordingly, the shape of an economic recovery will be the ultimate arbiter of our EBITDA performance exiting fiscal 2010," Ambroseo said.

Summarized statement of operations information is as follows (unaudited, in thousands except per share data):

Three Months Ended Twelve Months Ended Sept. 27, June 28, Sept. 29, Sept. 27, Sept. 29, 2008 2008 2007 2008 2007 Net sales $142,000 $157,024 $158,920 $599,262 $601,153 Cost of sales (A) (B) 86,971 87,765 92,494 347,356 351,145 Gross profit 55,029 69,259 66,426 251,906 250,008 Operating expenses: Research & development (A) (B) 17,464 19,076 18,047 74,287 74,590 In-process research and development - - - - 2,200 Selling, general & administrative (A) (B) (C) 30,694 39,480 43,979 146,376 153,697 Restructuring, impairment and other charges - - - - 248 Intangibles amortization 2,051 2,165 2,174 8,651 8,152 Total operating expenses 50,209 60,721 64,200 229,314 238,887 Income from operations 4,820 8,538 2,226 22,592 11,121 Other income, net 1,772 2,779 1,415 14,695 17,802 Income before income taxes 6,592 11,317 3,641 37,287 28,923 Provision for income taxes(D) 2,445 2,915 4,967 13,884 12,972 Net income (loss) $4,147 $8,402 (1,326) $23,403 $15,951 Net income (loss) per share: Basic $0.18 $0.36 ($0.04) $0.85 $0.51 Diluted $0.17 $0.35 ($0.04) $0.83 $0.50 Shares used in computation: Basic 23,696 23,514 31,417 27,505 31,398 Diluted 24,372 24,110 31,417 28,054 32,024 (A) The quarter ended September 27, 2008 includes $1,952 ($1,308 net of tax ($0.05 per diluted share)) of stock-related compensation expense. Pretax stock-related compensation expense is recorded in the statement lines as follows: $264 to cost of sales; $282 to research and development; and $1,406 to selling, general and administrative. The quarter ended June 28, 2008 includes $3,320 ($2,031 net of tax ($0.08 per diluted share)) of stock-related compensation expense. Pretax stock-related compensation expense is recorded in the statement lines as follows: $484 to cost of sales; $561 to research and development; and $2,275 to selling, general and administrative. The quarter ended September 29, 2007 includes $1,090 ($938 net of tax ($0.03 per diluted share)) of stock-related compensation expense. Pretax stock-related compensation expense is recorded in the statement lines as follows: $300 to cost of sales; $192 to research and development; and $598 to selling, general and administrative. The fiscal year ended September 27, 2008 includes $12,925 ($9,006 net of tax ($0.32 per diluted share)) of stock-related compensation expense. Pretax stock-related compensation expense is recorded in the statement lines as follows: $1,893 to cost of sales; $1,970 to research and development; and $9,062 to selling, general and administrative. The fiscal year ended September 29, 2007 includes $10,374 ($7,170 net of tax ($0.22 per diluted share)) of stock-related compensation expense. Pretax stock-related compensation expense is recorded in the statement lines as follows: $1,809 to cost of sales; $1,899 to research and development; and $6,666 to selling, general and administrative. (B) The quarter ended September 27, 2008 includes $3,602 ($2,566 net of tax ($0.11 per diluted share)) of restructuring costs primarily related to the exit of our Auburn, California facility, the consolidation of our German DPSS manufacturing into one location in Germany and headcount reductions due to the evolving economic situation. Pretax restructuring costs are recorded in the statement lines as follows: $2,662 to cost of sales; $406 to research and development; and $534 to selling, general and administrative. The quarter ended June 28, 2008 includes $2,202 ($1,374 net of tax ($0.06 per diluted share)) of restructuring costs primarily related to the exit of our Auburn, California facility. Pretax restructuring costs are recorded in the statement lines as follows: $1,328 to cost of sales; $273 to research and development; and $601 to selling, general and administrative. The fiscal year ended September 27, 2008 includes $5,804 ($3,940 net of tax ($0.14 per diluted share)) of restructuring costs primarily related to the exit of our Auburn, California facility, the consolidation of our German DPSS manufacturing into one location in Germany and headcount reductions due to the evolving economic situation. Pretax restructuring costs are recorded in the statement lines as follows: $3,990 to cost of sales; $679 to research and development; and $1,135 to selling, general and administrative. (C) The quarter ended September 27, 2008 includes $302 ($184 net of tax ($0.01 per diluted share)) of costs related to litigation resulting from our internal stock option investigation. The quarter ended June 28, 2008 includes $1,533 ($935 net of tax ($0.04 per diluted share)) of costs related to litigation resulting from our internal stock option investigation. The quarter ended September 29, 2007 includes $2,748 ($1,677 net of tax ($0.05 per diluted share)) of costs related to our internal stock option investigation and related litigation. The fiscal year ended September 27, 2008 includes $9,089 ($5,496 net of tax ($0.20 per diluted share)) of costs related to our restatement of financial statements and litigation resulting from our internal stock option investigation. The fiscal year ended September 29, 2007 includes $11,694 ($7,045 net of tax ($0.22 per diluted share)) of costs related to our internal stock option investigation. (D) During the fiscal year ended September 27, 2008, the Company incurred a tax charge of $1,394 ($0.05 per diluted share) in connection with a dividend from one of our European subsidiaries. Fiscal year ended September 29, 2007 includes a tax benefit of $2,147 ($0.07 per diluted share) due to reinstatement of the research and development tax credit.

Summarized balance sheet information is as follows (unaudited, in thousands):

Sept. 27, Sept. 29, 2008 2007 ASSETS Current assets: Cash, cash equivalents and short-term investments $218,094 $361,823 Restricted cash(A) 2,645 2,460 Accounts receivable, net 96,611 102,314 Inventories 120,519 112,893 Prepaid expenses and other assets 71,914 86,088 Total current assets 509,783 665,578 Property and equipment, net 100,996 104,305 Other assets 195,604 177,717 Total assets $806,383 $947,600 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current portion of long-term obligations $9 $9 Accounts payable 26,333 27,849 Other current liabilities 86,985 100,887 Total current liabilities 113,327 128,745 Other long-term liabilities 94,621 47,869 Total stockholders' equity 598,435 770,986 Total liabilities and stockholders' equity $806,383 $947,600 (A) Represents cash for remaining close out costs associated with our purchase of the remaining outstanding shares of Lambda Physik AG.

Reconciliation of GAAP to Non-GAAP net income (loss) (unaudited, in thousands, net of tax):

Three Months Ended Year Ended Sept. 27, June 28, Sept. 29, Sept. 27, Sept. 29, 2008 2008 2007 2008 2007 GAAP net income (loss) $4,147 $8,402 $(1,326) $23,403 $15,951 Stock option investigation and related restatement of financial statements, and litigation expenses 184 935 1,677 5,496 7,045 Stock-related compensation expense 1,308 2,031 938 9,006 7,170 Capital gain on sale of Condensa facility -- -- (3,566) -- (3,566) Capital loss on sale of Auburn campus -- -- 12,569 -- 12,569 Write-off of unamortized capitalized deferred bond issuance costs -- -- 2,614 -- 2,614 In-process research and development -- -- -- -- 2,200 Restructuring costs 2,566 1,374 -- 3,940 -- Gain on sale of substantially all assets of CIOL -- -- (681) -- (681) One-time tax expense (benefit) -- -- -- 1,394 (2,147) Non-GAAP net income $8,205 $12,742 $12,225 $43,239 $41,155 Non-GAAP net income per diluted share $0.34 $0.53 $0.39 $1.54 $1.29

The Company's conference call scheduled for 1:30 p.m. PT today will include discussions relative to the current quarter results and some comments regarding forward looking guidance on future operating performance. Readers are encouraged to refer to the risk disclosures described in the Company's reports on Forms 10-K, 10-Q and 8-K, as applicable and as filed from time-to-time by the Company.

Forward-Looking Statements

This press release contains forward-looking statements, as defined under the Federal securities laws. These forward-looking statements include the statements in this press release that relate to our ability to weather and emerge from the current environment with a strong product portfolio, our ability to drive operational efficiency, our ability to introduce highly differentiated products, the amount and timing of savings from our footprint moves, and any future market share gains. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement. Factors that could cause actual results to differ materially include risks and uncertainties, including but not limited to risks associated with quarterly and annual fluctuations in our net sales and operating results, our exposure to risks associated with worldwide economic slowdowns, our ability to increase our sales volumes and decrease our costs, the impact that our operations and potential acquisitions will have on interest, taxes, depreciation and amortization measurements, changes to the Company's tax rate as a result of government action, customer acceptance and adoption of our new product offerings, our ability to successfully achieve the benefits from the outsourcing of our optics manufacturing, and other risks identified in the Company's SEC filings. Readers are encouraged to refer to the risk disclosures described in the Company's reports on Forms 10-K, 10-Q and 8-K, as applicable and as filed from time-to-time by the Company. Actual results, events and performance may differ materially from those presented herein. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update these forward-looking statements as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Founded in 1966, Coherent, Inc. is a world leader in providing photonics based solutions to the commercial and scientific research markets and part of the Russell 2000. Please direct any questions to Leen Simonet, Chief Financial Officer at 408-764-4161. For more information about Coherent, visit the Company's Web site at http://www.coherent.com/ for product and financial updates.

Coherent, Inc.

CONTACT: Leen Simonet of Coherent, Inc., +1-408-764-4161

Web site: http://www.coherent.com/

Axion Announces Date of Its Third Quarter 2008 Earnings Release and Conference Call

NEW CASTLE, Pa., Nov. 5 /PRNewswire-FirstCall/ -- Axion Power International, Inc. (BULLETIN BOARD: AXPW) , announced plans to release its third quarter 2008 results before market on Tuesday, November 11, 2008. The Company will hold a conference call that same day to discuss the results at 10:00 am ET. Interested parties should call 888 713 4216 (domestic) or 617 213 4868 (international), with passcode 48263056 to access the call. You may also access this call via the Internet at:

http://phx.corporate-ir.net/playerlink.zhtml?c=155732&s=wm&e=2019590

For those who are unavailable to listen to the live broadcast, a replay will be available for 30 days and can be accessed by dialing 888 286 8010 (domestic) and 617 801 6888 (international) and using passcode 94140050.

About Axion Power International, Inc.

Axion has developed and patented a next generation energy storage device that won the prestigious Frost & Sullivan Technology Award for North America in the field of lead-acid batteries. According to Frost & Sullivan, Axion's new PbC(TM) batteries have "the potential to revitalize the lead-acid battery industry by breathing new life into an established technology that is not well suited to the requirements of important new applications like hybrid electric vehicles and renewable power."

Axion Power International Inc. is the industry leader in the field of lead-acid-carbon energy storage technologies. Axion believes this new battery technology is the only class of advanced battery that can be assembled on existing lead-acid battery production lines throughout the world without significant changes to production equipment and fabrication processes. It also believes it will be able to manufacture carbon electrode assemblies in volume at low cost using standard automated production methods that are commonly used in other industries. If and when its electrode manufacturing methods are fully developed, Axion believes it will be able to sell carbon electrode assemblies as virtual plug-and-play replacements for lead-based negative electrodes used by all other lead-acid battery manufacturers. Axion's goal is to become the leading supplier of carbon electrode assemblies for the lead-acid battery industry. For more information, visit http://www.axionpower.com/.

Contact: Allen & Caron Axion Power International Inc http://www.allencaron.com/ http://www.axionpower.com/ Rudy Barrio (investors) Kelly Gubish r.barrio@allencaron.com kgubish@axionpower.com 212 691 8087 724 654 9300 Brian Kennedy (media) brian@allencaron.com

Axion Power International, Inc

CONTACT: Rudy Barrio (investors), +1-212-691-8087,
r.barrio@allencaron.com, or Brian Kennedy (media), brian@allencaron.com, both
of Allen & Caron for Axion Power International, Inc; or Kelly Gubish of Axion
Power International, Inc, +1-724-654-9300, kgubish@axionpower.com

Web site: http://www.axionpower.com/

Actress Nia Long and Funny Man Chris Spencer Join Forces to Host BET J's First Ever VIRTUAL AWARDS Premiering on November 25 at 8:30 P.M. ETVirtual Awards Brings 16 Unique Nominee Categories Honoring Today's Best In Music and Entertainment

WASHINGTON, Nov. 5 /PRNewswire/ -- BET J bridges the worlds of music and virtual reality to bring viewers its first ever awards show, the BET J VIRTUAL AWARDS, slated to premiere on BET J on Tuesday, November 25 at 8:30 p.m. ET, followed by an encore online broadcast at 10:00 p.m. ET on BET.com. Hosted by critically-acclaimed actress Nia Long and comedian Chris Spencer, the "virtual" broadcast will feature red-hot performances from Washington, DC, New York and Atlanta hotspots -- all from a stunning, ground-breaking virtual environment!

(Logo: http://www.newscom.com/cgi-bin/prnh/20070716/BETNETWORKSLOGO )

The BET J VIRTUAL AWARDS perfectly blends the "traditional" awards show with today's cutting edge technology. The star-studded special will showcase an esteemed lineup of 16 nominee categories that pay homage and accolades to today's music newcomers and veterans, as well as other celebrities making unprecedented moves in film.

BET J also gives viewers an opportunity to showcase their own musical talent by performing their own rendition of one of the five nominated songs in the special user-generated "My Time Online" category. Beginning Wednesday, November 5 - Wednesday, November 12, viewers can log onto http://www.bet.com/betjvirtualawards to upload their videos which will be judged by a celebrity panel of judges. The winner will be presented with their own BET J VIRTUAL AWARDS statuette and have their acceptance speech air during the awards show.

BET J will also air programming specials leading up to the highly-anticipated premiere of the first-ever virtual awards show. The VIRTUAL AWARDS RED CARPET SPECIAL hosted by Claudia Jordan and Tears Shears Beauty icon Derek J, brings viewers behind-the-scenes awards show footage, celebrity glam, and the red carpet hits and misses through colorful and hilarious commentary premieres online on Tuesday, November 25 at 5:00 p.m., followed by an 8:00 p.m. broadcast premiere. BET J's flagship SOUL SESSIONS will also feature a special episode honoring the VIRTUAL AWARDS nominees, and will include the nominees' music videos in a specially-created virtual environment to premiere on Wednesday, November 12 at 6:00 p.m.

Created by Bart Phillips and directed by Jonathan X, BET J's first ever VIRTUAL AWARDS is executively produced by Paxton Baker, Executive Vice President of BET J and President & General Manager of BET Digital Networks and BET Event Productions, and Bart Phillips, Sunseeker Media; and produced by Tami Willis-Arasli, Vice President of BET J Production and Junia Joseph, Sunseeker Media.

Following is a complete list of nominee categories for the BET J VIRTUAL AWARDS show:

Album of the Year: -- Alicia Keys, As I Am, J Records -- Angie Stone, The Art of Love and War, Stax / Concord Music Group -- Erykah Badu, New Amerykah, Pt.1 (4th World War), Universal Motown Records -- Chaka Khan, Funk This, Burgundy Records -- Lenny Kravitz, It's Time for a Love Revolution, Virgin Records America -- Raheem DeVaughn, Love Behind the Melody, Jive Records/Zomba Label Group Song of the Year: -- American Boy, William Adans, Keith Harris, Josh Lopez, Spier Caleb, Estelle Swaray, Kanye West -- Honey, E. Badu, F. Baskett, Patrick Douthit, C. McDonald, D. Shields -- Just Fine, Phaton Alexander, Mary J. Blige, Terius "The-Dream' Nash, Christopher Stewart -- Love Revolution, Lenny Kravitz, Craig Ross -- Teenage Love Affair, Josephine Bridges, Carl Hampton, Alicia Keys, Harold Lilly, Tom Nixon, Jack Splash -- Woman, Raheem DeVaughn, C Thompson Virtual Video of the Year: -- Common, Drivin Me Wild -- Erykah Badu, Honey -- Solange, I Decided -- Robin Thicke, Magic -- T Pain, Can't Believe It -- Wyclef Jean, Fast Car Soul Approved - Best New Artist: -- Algebra, Kedar Entertainment -- Chrisette Michele, The Island Def Jam Music Group -- Estelle, Home School/Atlantic Records -- Jennifer Hudson, Arista -- Solange, Geffen/Music World Entertainment -- Terrence Howard, Columbia Records Jazz Artist: -- Chris Botti, Columbia Records -- Harry Connick Jr., Columbia Records -- Patti Austin, Rendezvous Entertainment -- Stanley Clarke, Roxboro Entertainment Group -- Tony Bennett, Columbia Records -- Wynton Marsalis, Blue Note Records Contemporary Jazz Artist: -- Al Jarraeu, The Concord Music Group -- Dianne Reeves, The Blue Note Label Group -- Herbie Hancock, The Verve Music Group -- Kenny G, The Concord Music Group -- George Duke, BPM Records -- S.M.V.-Stanley Clarke, Marcus Miller and Victor Wooten, S.M.V. LLC Best Gospel Artist: -- BeBe Winans, Koch Records -- Mary Mary, Columbia Records -- Israel & New Breed , Integrity Media, Inc -- Kirk Franklin, Fo Yo Soul/Gospo Centric/ Zomba -- Marvin Sapp, Verity Records/ Zomba Gospel -- Trin-I-Tee 5:7, Spirit Rising Music/Music World Entertainment Best Caribbean Artist: -- Alison Hinds, RCG/ Black Coral/ 1720 Entertainment -- Elephant Man, Bad Boy Records -- Fay-Ann Lyons, VP Music -- Machel Montano, Ruf Rex Productions LTD. / Xtatik LTD -- Morgan Heritage, VP Music -- Mavado, Greensleeves Records Best Underground Artist: -- Conya Doss, Album: Still; Song: What I'd Do; Label: Conyadoss Music -- Eric Roberson, Album Left ...; Song: Pretty Girl; Label: Blue Erro Soul -- Heston, Album: Storyteller, Song: No Way, Label: Worldsoul Records -- Liv Warfield, Album Embrace Me; Song: Groove DJ; Label: B&M -- Rahsaan Patterson, Album: Wine and Spirits; Song: Stop Breaking My Heat; Label: Artistry Music -- Vikter Duplaix; Album: Bold and Beautiful; Song: Make A Baby; Label: BBE Male Artist of the Year: -- Common, Geffen Records -- John Legend, G.O.O.D Music/Columbia Records -- Lenny Kravitz, Virgin Records America -- Raheem DeVaughn, Jive Records/Zomba label Group -- Terrence Howard, Columbia Records -- Wyclef Jean, Columbia Records Female Artist of the Year: -- Alicia Keys, J Records -- Chrisette Michele, The Island Def Jam Music Group -- Estelle, Home School/Atlantic Records -- Jill Scott, Hidden Beach Recordings -- Ledisi, The Verve Music Group -- Janet Jackson, The Island Def Jam Music Group Live Performer of the Year: -- Erykah Badu -- Gnarls Barkley -- Mike Phillips -- The Roots -- Raheem DeVaughn -- Wyclef Jean Best Film: -- American Gangster, Director: Ridley Scott; Producers: Brian Grazer and Ridley Scott -- I Am Legend, Director: Francis Lawrence, Producers: Akiva Goldberg, David Heyman, James Lassite and Neal H. Moritz -- Meet the Browns, Director: Tyler Perry and Producer: Reuben Cannon and Tyler Perry -- The Great Debaters, Director: Denzel Washington, Producers: Todd Black, Kate Forte, Joe Roth and Oprah Winfrey -- Welcome Home Roscoe Jenkins, Malcolm D. Lee and Producers: Charles Castaldi, Mary Parent and: Scott Stuber Best Actor: -- David Man, Meet the Browns -- Denzel Washington, The Great Debaters -- Denzel Washington, American Gangster -- Derek Luke, Lions for Lambs -- Martin Lawrence, Welcome Home Roscoe Jenkins -- Will Smith, I Am Legend Best Actress: -- Angela Basset, Meet the Browns -- Halle Berry, Things We Lost In the Fire -- Jill Scott, Why Did I Get Married -- Jurnee Smollett, The Great Debaters -- Loretta Devine, This Christmas -- Ruby Dee, American Gangsters The Journey Award - Lifetime Achievement Recipient ABOUT BET J

BET J, a subsidiary of Viacom, Inc. , is a sophisticated digital network infused with innovative and original programming featuring a unique mix of music, culture and style embracing the Black experience. It is the premiere destination for a multicultural audience delivering music from all genres along with movies, riveting talk, concerts and in-depth interview shows. BET J keeps viewers talking with exciting original programs such as: CARMELO'S WAY, LEADING MEN, URBAN CUISINE and REAL LIFE DIVAS, and is currently viewed in over 32 million households and growing.

About BET Networks

BET Networks, a division of Viacom Inc. , is the nation's leading provider of quality entertainment, music, news and public affairs television programming for the African-American audience. The primary BET channel reaches more than 87 million households according to Nielsen Media Research, and can be seen in the U.S., Canada and the Caribbean. BET is the dominant African-American consumer brand with a diverse group of business extensions: BET.com, a leading internet destination for Black entertainment, music, culture, and news; BET Digital Networks -- BET J, BET Gospel and BET Hip Hop, attractive alternatives for cutting-edge entertainment tastes; BET Event Productions, a full-scale event management and production company; BET Home Entertainment, a collection of BET-branded offerings for the home environment including DVDs and video-on-demand; BET Mobile, a service venture into the lucrative world of ring tones, games and video content for wireless devices; and BET International, an extension of BET network programming for global distribution.

Photo: http://www.newscom.com/cgi-bin/prnh/20070716/BETNETWORKSLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com BET Networks

CONTACT: Lyntina Townsend of BET Networks, +1-202-608-2745,
lyntina.townsend@bet.net

Web site: http://www.bet.com/
http://www.bet.com/betjvirtualawards

Microsoft et la HIMSS lancent le Groupe d'utilisateurs de Microsoft Santé dant toute la région EMEA

COPENHAGUE, Danemark, November 5 /PRNewswire/ --

- Un forum collaboratif conçu pour rassembler les communautés de la santé de la région.

Dans le cadre de la Conférence et salon mondiaux sur l'informatique de santé (World of Health IT Conference and Exhibition) à Copenhague, Microsoft Corp et la Healthcare Information and Management Systems Society (HIMSS) ont annoncé la mise en oeuvre du Groupe d'utilisateurs de Microsoft Santé (Microsoft HUG) dans l'ensemble de l'Europe, du Moyen-Orient et de l'Afrique (EMEA). Ce Groupe entend offrir aux organismes et partenaires des soins de santé un forum en ligne visant à faciliter l'élaboration de solutions de santé et à démontrer comment la technologie peut contribuer à résoudre les défis posés par les soins de santé.

(Logo : http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO)

Le forum innovant de Microsoft HUG se présente sous la forme d'un site Web au sein duquel les partenaires et développeurs de solutions technologiques destinées au secteur de la santé peuvent collaborer concernant certains éléments des solutions basées sur les plates-formes Microsoft ; découvrir de nouvelles applications pour les technologies existantes, pour le soutien au développement et pour la collaboration et le réseautage avec les pairs ; et enfin, discuter des besoins et désirs naissant de l'utilisation actuelle de l'informatique dans le secteur de la santé. Après plusieurs années de collaboration réussie au sein du forum actuel, le Groupe Microsoft HUG compte aujourd'hui plus de 5 000 membres issus de divers milieux et reçoit le soutien de 31 entreprises sur l'ensemble de l'Amérique du Nord. Le Groupe Microsoft HUG partage un intérêt commun : la mise en oeuvre de logiciels développés par les éditeurs et par les utilisateurs et se basant sur la technologie Microsoft, et ayant pour objectif d'améliorer la qualité et l'efficacité des soins de santé tout en réduisant leur complexité et leurs coûts.

<< L'élargissement de Microsoft HUG à la communauté des soins de santé de l'EMEA permet la création d'un forum étendu dans lequel partager les bonnes pratiques et les leçons apprises, qu'il s'agisse de notre propre expérience ou de celle de nos clients et de nos partenaires >>, a indiqué Tim Smokoff, directeur général de la santé mondiale chez Microsoft. << Cette collaboration permet à l'écosystème de se renforcer. Les partenaires peuvent désormais encore mieux soutenir leurs entreprises, les clients peuvent améliorer leurs services, et tous deux bénéficient donc d'un meilleur retour sur investissement en tirant parti des leçons apprises par d'autres lorsque confrontés à des défis semblables - et ce, tout en travaillant à l'amélioration des coûts, de la qualité et de l'accès aux soins de santé pour tous les citoyens. >>

<< La gestion de Microsoft HUG nous permet de continuer à faire progresser notre mission, qui est de montrer la voie du changement dans le domaine des systèmes informatiques et administratifs du secteur de la santé au moyen du partage de connaissances, du soutien, de la collaboration, de l'innovation et de l'affiliation à des communautés. Notre but ultime étant d'obtenir de meilleurs soins aux patients, il s'agit donc là d'une nouvelle étape dans cette direction >>, a déclaré H. Stephen Lieber, CAE, président et directeur général de la HIMSS.

La communauté Microsoft HUG EMEA, hébergée sur le site actuel de Microsoft HUG (http://www.mshug.org), permettra à ses membres d'avoir accès à une ressource qui allie solutions, experts et pairs à une sphère d'influence et de formation bien plus étendue. Les membres profitent des avantages suivants :

-- Accès aux toutes dernières solutions et technologies issues des meilleurs laboratoires d'études de Microsoft et d'autres experts indépendants du secteur -- Un forum pour exprimer ses opinions, apprendre de ses pairs et donner forme à l'avenir de l'informatique dans le secteur de la santé -- Des occasions de réseautage avec d'autres professionnels afin de faire avancer sa carrière -- Une interaction en ligne visant à aider les professionnels à communiquer avec d'autres

Avec le lancement de la communauté EMEA, Microsoft et la HIMSS pensent pouvoir renforcer leur engagement à mieux servir le secteur au travers d'une vision stratégique partagée : offrir un leadership dans le secteur, soutenir des normes appropriées et élaborer les exigences associées dans le but de soutenir des solutions en matière de soins de santé.

Les personnes souhaitant s'inscrire à Microsoft HUG EMEA peuvent consulter http://www.mshug.org pour de plus amples renseignements.

À propos de la HIMSS

La Healthcare Information and Management Systems Society (Société des systèmes informatiques et administratifs de santé - HIMSS) est un organisme par adhésion du secteur de la santé qui se consacre exclusivement au leadership mondial en faveur d'une utilisation optimale de l'informatique et des systèmes administratifs dans le secteur de la santé afin d'améliorer les soins de santé. Fondée en 1961 et disposant de bureaux à Chicago, Washington D.C., Bruxelles, Singapour ainsi que dans d'autres villes des États-Unis et du monde entier, la HIMSS compte plus de 20 000 membres particuliers et plus de 350 entreprises membres, représentant collectivement des millions de personnes. La HIMSS encadre et dirige les politiques générales en matière de santé et les pratiques du secteur grâce à ses initiatives de soutien, de formation et de développement professionnel conçues pour promouvoir ce que peuvent apporter les systèmes informatiques et administratifs au niveau de la qualité des soins aux patients.

À propos de Microsoft

Crée en 1975, Microsoft (Nasdaq : MSFT) est le leader mondial des logiciels, services et solutions qui aident les personnes et les entreprises à atteindre leur plein potentiel.

À propos de Microsoft EMEA (Europe, Moyen-Orient et Afrique)

Microsoft travaille dans l'EMEA depuis 1982. Microsoft emploie dans la région plus de 16 000 personnes au sein de 64 filiales, fournissant ainsi ses produits et services dans plus de 139 pays et territoires.

Ce document est exclusivement fourni à titre indicatif. Microsoft Corp décline toutes garanties et conditions concernant l'utilisation de ce document à d'autres fins. Microsoft Corp ne pourra, à aucun moment, être tenue responsable pour tout dommage spécial, direct, indirect ou consécutif, que ce soit dans l'action d'un contrat, d'une négligence ou de toute autre action provenant ou liée à l'utilisation ou à la performance du document. Rien de ce qui est mentionné ci-dessus ne constitue une garantie de quelque nature que ce soit.

Microsoft

Christina Roosen de World of Health IT, +32(0)487-445-121, Christina.Roosen@WorldofHealthIT.org ; ou Simmi Singh de Waggener Edstrom Worldwide, +1-503-443-7000, ssingh@waggeneredstrom.com, pour Microsoft ; ou Microsoft EMEA Response Centre, emearesponse@webershandwick.com / REMARQUE À L'INTENTION DES RÉDACTEURS : Si vous souhaitez obtenir plus d'informations sur Microsoft EMEA, veuillez consulter http://www.microsoft.com/emea ou le centre de presse EMEA au http://www.microsoft.com/emea/presscentre. Les liens hypertextes, numéros de téléphone et titres étaient corrects lors de la publication mais ont pu changer depuis. Pour de l'aide, les journalistes et les analystes peuvent contacter les personnes dont le nom figure au http://www.microsoft.com/emea/presscentre/contactus.mspx. Si vous voulez en savoir plus sur Microsoft Corp, consultez la page Web de Microsoft au http://www.microsoft.com/presspass sur les pages d'information officielles de Microsoft. / Photo : NewsCom : http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO, Archive AP : http://photoarchive.ap.org, PRN Photo Desk, photodesk@prnewswire.com

Cirrus Health and Siemens Announce Technology Alliance to Deliver the Physician-Driven Hospital of the FutureFive-Year Contract to Include Solutions for Medical Equipment, Facility Design, Building Infrastructure and Automation, Power Technology and More

DALLAS and NEW YORK, Nov. 5 /PRNewswire-FirstCall/ -- Cirrus Health forged a five-year alliance with Siemens Corporation to provide a wide range of technology and service solutions for the next generation of physician-owned healthcare environments.

(Logo: http://www.newscom.com/cgi-bin/prnh/20070904/SIEMENSLOGO )

The Cirrus Health-Siemens alliance underscores the commitment of Cirrus Health to create surgery centers and hospitals in which physicians have the greatest opportunity to deliver unparalleled patient care. The agreement includes integration of Siemens medical equipment, communications systems, building infrastructure and automation technologies, fire and life safety, physical security systems, energy efficiency consulting, lighting, and power technology solutions. Additionally, Siemens will work closely with Cirrus Health physician partners to develop optimized, process-based facility design recommendations focused on the highest quality of patient care, efficient workflow and utilization of resources, to deliver a positive experience for patients and staff.

"Cirrus Health has an innovative approach to partnering with physicians to create healthcare facilities, and this gives Siemens a unique opportunity to leverage our expertise in medical equipment and building infrastructure," said Ken Cornelius, President and CEO of Siemens One, the solutions business of Siemens Corporation. "Entire communities will benefit from the advanced technologies we're providing in these new environments."

One of the first initiatives for the new alliance will be the development and design of Central Heart and Surgical Hospital in Conway, Arkansas. The facility, when complete, will total 130,000 square feet with 55 beds and 8 operating rooms and include a full imaging suite and space for three cardiac catheterization laboratories. Siemens, working with the project design and engineering team of Cirrus Health, will provide design services and building automation equipment, systems integration, fire alarm and suppression, and security and access control systems. Nearly $10.5 million of Siemens equipment is included in the capital budget for this project with the opening projected for summer of 2010.

"Siemens One provides holistic management of these complex projects -- including medical equipment, building systems information technology and financing solutions -- and that means a more cost effective and time-efficient proposition for our facilities," stated John T. Thomas, President and Chief Development Officer for Cirrus Health. "No one else offers such a competitive, comprehensive and effective coordination of products and services."

About Siemens

Siemens AG is a global powerhouse in electronics and electrical engineering, and operates in the industry, energy and healthcare sectors. For more than 160 years, Siemens has built a reputation for leading-edge innovation and the quality of its products, services and solutions. With nearly 400,000 employees in 190 countries, Siemens reported worldwide sales of $96.6 billion in fiscal 2007. With its U.S. corporate headquarters in New York City, Siemens in the USA reported sales of $19.8 billion and employs approximately 70,000 people throughout all 50 states and Puerto Rico. For more information on Siemens in the United States, visit http://www.usa.siemens.com/.

About Cirrus Health

Cirrus Health is a health services organization, specializing in the development and acquisition of ambulatory surgery centers, short-stay and community hospitals. Cirrus Health is designed to serve local communities by partnering with physicians and other high-quality healthcare providers to deliver excellence in patient care in effective, caring environments. For more information on Cirrus Health, visit http://www.cirrushealth.com/.

Photo: http://www.newscom.com/cgi-bin/prnh/20070904/SIEMENSLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Siemens

CONTACT: Esra Ozer, Siemens Corporation, +1-212-258-4348,
esra.ozer@siemens.com; or Tracy Edwards, Cirrus Health Corporation,
+1-214-217-0100, tedwards@cirrushealth.com

Web Site: http://www.cirrushealth.com/
http://www.usa.siemens.com/

IPTV to Capture 14% of Pay TV Subscribers by 2013 at the Expense of Cable TV, Pyramid Research Finds

CAMBRIDGE, Mass., Nov. 5 /PRNewswire/ -- IPTV's share of the overall pay TV subscriber base will grow from 3 percent in 2008 to 14 percent in 2013 at the expense of cable TV's share, which will decline from 76 percent to 61 percent over the same period, according to a new Media Forecast service just launched by Pyramid Research (http://www.pyr.com/), the telecom research arm of Light Reading Communications Group (http://www.lightreading.com/).

"IPTV operators continue to make strong strides in gaining pay TV market share," comments Ozgur Aytar, Senior Research Manager, Broadband & Media. "Pyramid Research estimates that IPTV will drive a global total of 9 million net subscriber additions in 2008, 40 percent of which will come from markets in the Asia/Pacific region."

The Forecast also reveals that, with an increasing number of telcos deploying fiber amidst an increasing need to replace their fixed telephony business, FTTx networks are expected to account for close to 30 percent of IPTV revenues in 2013.

About Pyramid Research's New Media Forecast

With telcos and mobile operators increasingly offering TV and video services, Pyramid Research's Media Forecasts are designed to provide competitive intelligence on the pay TV and mobile TV dynamics for 60 countries as well as regionally and globally. The Media Forecasts track demand patterns for free and pay TV services over terrestrial, satellite, and mobile platforms worldwide, providing market share information at both the technology and operator levels as well as five-year adoption and revenue projections.

The key indicators included in the Media Forecast are as follows: -- Penetration of TV sets as well as pay TV and mobile TV services -- Pay TV accounts by technology -- Cable TV accounts by operator -- DTH/satellite accounts by operator -- DTT/DVB-T accounts by operator -- IPTV accounts by operator -- Mobile TV subscriptions by operator -- Operator market share of TV households -- Pay TV ARPS by technology -- Mobile TV ARPS -- Pay TV revenue by technology -- Mobile TV revenue

For more information, please visit http://www.pyramidresearch.com/mediafcst.htm.

About Pyramid Research (http://www.pyr.com/)

Pyramid Research offers practical solutions to the complex demands our clients face in the telecommunications, media, and technology industries. Our analysis is uniquely positioned at the intersection of emerging markets, emerging technologies, and emerging business models, powered by the bottom-up methodology of our market forecasts for more than 100 countries -- a distinction that has remained unmatched for over 20 years. As the telecom research arm of the Light Reading Communications Network, Pyramid Research has integrated with Heavy Reading to provide the most comprehensive communications research, market data, and technology analysis in close to 100 markets around the world.

About Light Reading (http://www.lightreading.com/)

Founded in 2000, Light Reading is the leading online media, research, and focused event company serving the $3 trillion worldwide communications market. Lightreading.com is the ultimate source for technology and financial analysis of the communications industry, leading the media sector in terms of traffic, content, and reputation. Light Reading's research arms, Heavy Reading and Pyramid Research, provide the most comprehensive communications research, market data, and technology analysis in close to 100 markets around the world. Light Reading produces nearly 20 targeted communications events including TelcoTV, Ethernet Expo New York and Ethernet Expo London, The Tower Summit @ CTIA, and Optical Expo, as well as focused one-day events tailored for cable, mobile, and wireline executives. Light Reading was acquired by United Business Media in August 2005 and operates as a unit of TechWeb.

About TechWeb (http://techweb.com/aboutus)

TechWeb, the global leader in business technology media, is an innovative business focused on serving the needs of technology decision-makers and marketers worldwide. TechWeb produces the most respected and consumed media brands in the business technology market. Today, more than 13.3 million* business technology professionals actively engage in our communities created around our global face-to-face events, Interop, Web 2.0, Black Hat, and VoiceCon; online resources such as the TechWeb Network, Light Reading, Intelligent Enterprise, InformationWeek.com, bMighty.com, and The Financial Technology Network; and the market leading, award-winning InformationWeek, TechNet Magazine, MSDN Magazine, and Wall Street & Technology magazines. TechWeb also provides end-to-end services including next-generation performance marketing, integrated media, research, and analyst services. TechWeb is a division of United Business Media, a global provider of news distribution and specialist information services with a market capitalization of more than $2.5 billion.

*13.3 million business decision-makers: based on number of monthly connections

About United Business Media Limited (http://www.unitedbusinessmedia.com/)

United Business Media Limited (UBM) is a global media and marketing services company that informs markets and brings the world's buyers and sellers together at events, online, in print, and with the information they need to do business successfully. UBM serves professional and commercial communities, from IT professionals to doctors, from journalists to jewelry dealers, from farmers to pharmacists around the world. UBM employs more than 6,500 people in more than 30 countries. UBM's businesses operating in the US include CMPMedica, Commonwealth Business Media, Everything Channel, PR Newswire, RISI, TechInsights, TechWeb and Think Services. UBM is listed on the London Stock Exchange (UBM.L) and has a market capitalization of $2.5 billion.

Press contact: Jennifer Baker +1 617 494 1515 ext. 272 jbaker@pyr.com

Pyramid Research

CONTACT: Jennifer Baker, +1-617-494-1515 ext. 272, jbaker@pyr.com

Web Site: http://www.pyr.com/

3G Dynasty to Distribute Hong Kong Film via 40,000 Internet Cafes in China

FOSHAN, China, Nov. 5 /Xinhua-PRNewswire/ -- MyStarU.com, Inc. (OTC Bulletin Board: MYST; Frankfurt Stock Exchange: TQF) announced today that its subsidiary 3G Dynasty, Inc.(3G) will distribute Hong Kong Film via 40,000 Internet Cafes in China

3G has inked a three-year deal with South China InternetCafes Alliance (SCIA) which will see 723 Hong Kong films distributed in China online through various networks, including China Internet Cafes Cinema Line, China Cyber Cinema Line, China Campus Cinema Line and China Domestic Cinema Line.

"The partnership with SCIA marks an important step forward for 3G's Hong Kong films distribution network in China," said Simon Qiu, COO, Mystaru.com, Inc.

SCIA was established in 2003, and is one of largest digital entertainment service managements firms in China. The company takes an active interest in cyber cafes, Internet, mobile phones, IPTV, digital television and other forms of content delivery.

"With SCIA's established network and quality content services, we look forward to introducing these timeless treasures and new production movies to millions of Chinese audience, It is estimated the films will be distributed in 40,000 internet cafes and seen in a potential 90 million households." said Qiu.

About MyStarU.com, Inc.

MyStarU.com, Inc. (MYST) is a Total Solutions Provider that offers Integrated Communications Network Solutions and Internet Content Service in universal voice, video, data web and mobile communications for interactive media applications, technology and content leaders in interactive multimedia communications. It develops, markets and sells a universal media software solution for enterprise-wide deployment of integrated voice, video, data web and mobile communications and media applications. MyStarU.com, Inc. does business in Asia via its wholly-owned subsidiaries, MyStarU Limited ( http://www.mystaru.com/ ,http://www.skyestar.com/, http://www.icurls.com/ ) and majority owned subsidiary Subaye.com, Inc. ( http://www.subaye.com/ , http://www.x381.com/ , http://www.goongreen.org/ ).

Safe Harbor

The statements made in this release constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, changing economic conditions, interest rates trends, continued acceptance of the Company's products in the marketplace, competitive factors and other risks detailed in the Company's periodic report Filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. For more information, please contact:

MyStarU.com, Inc.

CONTACT: Ms. Helen Wang, MyStarU.com, Inc. at +86-10-6702-6968 or
IR@MyStarU.com

Web site: http://www.mystaru.com/
http://www.subaye.com/
http://www.x381.com/
http://www.icurls.com/
http://www.skyestar.com/

Competitive Companies, Inc. (CCI) Acquires 40 Carrier-Grade Microwave Towers from Worldwide Communications, Inc.

RIVERSIDE, Calif., Nov. 5 /PRNewswire-FirstCall/ -- Competitive Companies, Inc. (CCI) (BULLETIN BOARD: CCOP) has entered into a letter of intent to acquire ("40") carrier-grade microwave towers originally constructed by AT&T and MCI, from Worldwide Communications, Inc. The towers purchased, valued at more than $2,000,000, are strategically located in alternate tier markets in 13 states in the United States. This acquisition of network assets is a significant contribution to Competitive Companies Inc.'s growing portfolio of technology, applications, and content delivery platforms, and provides a compelling advantage in the rural market wireless industry as it grows its network presence and broadband IP services in the United States.

The new 40 tower network provides a critical link for CCI to fully enable a Broadband IP-based network in conjunction with the Company's existing fiber optics core fixed wireless equipment and technology, and allows pursuance of lucrative rural market demand for broadband-IP services (including VOIP, data, multi-media, and interactive services). The tower assets will afford CCI oversight and control of a robust network, whereby WIMAX and CDMA 2000 network providers will seek to align with CCI to enable their service platforms for broadband IP services.

About Competitive Companies, Inc.

Competitive Companies, Inc. (CCI) is a Nevada Corporation with its principal offices in Riverside, California. The Company began operations in 1998 to provide telecommunication services of data, voice and video to multiple dwelling units (MDU's) throughout concentrated tier one market areas of the United States. As Congress passed "open access" legislation to the MDU marketplace, larger and greater capitalized organizations made it exceedingly more difficult for the Company to compete. Thus CCI has refocused its concentration to the rural communities of America's Heartland to deliver data and voice utilizing fixed wireless as its primary delivery choice.

CCI has assembled a management team with collectively more than 30 years of telecommunications experience including RF engineering, software development, automation design and deployment, technical and customer support and direct design, development and deployment of wide area networks in rural communities. The Company is aggressively extending its current fixed wireless footprint across America's rural communities utilizing its unique partnership programs. For more information on the company, please visit http://www.cci-us.com/.

Forward-Looking Statements:

This press release contains statements that are "forward-looking" and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. Generally, the words "expect," "intend," "estimate," "will" and similar expressions identify forward-looking statements. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, or that of our industry, to differ materially from those expressed or implied in any of our forward- looking statements. Statements in this press release regarding the Company's business or proposed business, which are not historical facts, are "forward- looking" statements that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.

Competitive Companies, Inc.

CONTACT: Jerald L Woods, President-CEO of Competitive Companies, Inc.,
+1-270-763-9129, jwoods@jeraldwoods.com

Web site: http://www.cci-us.com/

En association avec Qualys, Tata Communications inaugure son nouveau service de gestion des vulnérabilités

MUMBAI, Inde, November 5 /PRNewswire/ --

- Service de gestion des vulnérabilités destiné à améliorer la sécurité des réseaux et à rationnaliser la mise en conformité au sein des entreprises

Tata Communications, l'un des principaux fournisseurs de communications de nouvelle génération, a annoncé aujourd'hui le lancement international de son service de gestion des vulnérabilités (http://www.tatacommunications.com/enterprise/security/cloud.asp ). Le service de gestion des vulnérabilités de Tata Communications fait partie de sa suite de services de sécurité gérés. Il repose sur QualysGuard(R), le système du leader Qualys spécialisé dans la gestion des vulnérabilités et dans la mise en conformité.

Le service de gestion des vulnérabilités de Tata Communications garantit la détection et le mappage des immobilisations de TI, la définition de leurs priorités, l'évaluation des vulnérabilités, le suivi des correctifs et un reporting exhaustif. Ce service permet d'automatiser la gestion des vulnérabilités au sein des entreprises et prend en charge les mesures de mise en conformité réglementaire.

Les professionnels de l'informatique doivent de plus en plus se conformer aux exigences réglementaires, statuaires, industrielles et internes, notamment les lois PCI DSS, SB1386, HIPPA, Sarbanes Oxley et les directives européennes sur la confidentialité des données.

La mise en oeuvre et le respect de ces contraintes supposent que les professionnels de l'informatique organisent une évaluation continue des vulnérabilités et des procédures correctives. C'est ainsi que des efforts raisonnables seront entrepris pour protéger les données et les processus commerciaux.

D'après Forrester Research, << l'identification des vulnérabilités est une étape essentielle pour atténuer les risques. La définition d'un processus systématique est primordiale pour détecter de nouvelles vulnérabilités pertinentes >>. (1)

<< Les entreprises dépendent d'Internet. Ceci dit, la multiplication de menaces de plus en plus sophistiquées planant sur les infrastructures Internet va de pair avec une nécessité croissante de mise en conformité. On n'envie guère la position des équipes de services informatiques, qui doivent réduire les risques opérationnels, améliorer la disponibilité des applications et garantir une mise en conformité continue vis-à-vis des auditeurs, le tout sur fond de resserrement budgétaire >>, déclare John Landau, vice-président directeur de Global Managed Services pour Tata Communications. << Une gestion performante des vulnérabilités conformément aux meilleures pratiques et réalisée en interne, est une tâche onéreuse et difficile pour les entreprises, quelle que soit leur taille. Toute erreur risque de se solder par des interruptions de services désastreuses, des données corrompues et une non-conformité. Le service de gestion des vulnérabilités de Tata Communications permet aux entreprises d'identifier les systèmes critiques nécessitant des mises à jour correctives à un coût d'exploitation sensiblement réduit. Il n'est pas nécessaire d'investir en capital ni de présenter des compétences particulières. Ce service permet aux clients, quelle que soit leur taille, de se décharger des aspects techniques et opérationnels épineux associés à la gestion des vulnérabilités tout en gardant le contrôle des prises de décision et des processus correctifs >>.

Le service de Tata Communications permet aux administrateurs système et aux responsables de sécurité des réseaux de contourner les complexités liées à l'évaluation et à la gestion des informations pour se concentrer sur les tâches correctives, qui nécessitent un jugement technico-commercial, tout en optimisant les fonctions automatisées, pierre angulaire du nouveau service. La solution Qualys pour la gestion des vulnérabilités à la demande a déjà été adoptée par plus de 35 % des entreprises Fortune 100. La société Tata Communications est désormais en mesure de livrer les mêmes fonctions à ses clients.

<< La gestion des risques de sécurité et des mesures de mise en conformité est un réel défi que doivent relever les entreprises jour après jour >>, déclare Philippe Courtot, président-directeur général de Qualys. << Notre partenariat avec Tata Communications leur permet d'offrir une solution rentable, modulable et fiable à leurs clients internationaux leur permettant ainsi d'améliorer leur sécurité et de rationnaliser leurs actions de mise en conformité. Nous sommes ravis de coopérer avec un tel acteur de renommée internationale >>.

Références

(1) << Mise en opération de la gestion des vulnérabilités applicatives >>, février 2008.

À propos de Tata Communications

Tata Communications, membre du Groupe Tata dont le capital s'élève 62,5 milliards de dollars, est l'un des principaux fournisseurs mondiaux de communications de nouvelle génération. Le leader de la communication sur les marchés émergents mise sur ses capacités de solutions avancées et son expertise du domaine sur l'ensemble de son réseau mondial et panindien pour offrir des solutions gérées à des entreprises multinationales et indiennes, ainsi qu'aux fournisseurs de services et aux clients indiens.

L'éventail des services offerts par Tata Communications inclut les transmissions, le protocole Internet (IP), les services de convergence de voix, la mobilité, la connectivité réseau gérée, l'hébergement et le stockage, la sécurité gérée, la collaboration gérée et la transformation commerciale pour des entreprises mondiales, ainsi que pour des fournisseurs de services, de même qu'Internet, de services de haut débit et de contenus au détail pour des clients indiens.

Le réseau Tata mondial comprend l'un des câblodistributeurs sous-marins les plus importants et les plus avancés, un réseau IP Tier-1 , avec une connectivité dans plus de 200 pays par l'intermédiaire de 300 points d'accès et plus d'un million de mètres carrés de centres de données et d'installations de colocalisation.

La profondeur et l'ampleur uniques de la portée de Tata Communications sur les marchés émergents incluent un réseau national d'interconnexion en fibre et un accès au réseau dans plus de 60 villes et 125 points d'accès en Inde, des investissements stratégiques dans l'opérateur de services de convergence Sud-africain, Neotel, au Sri Lanka et au Népal et, sous réserve de la réalisation des conditions précédentes, un droit de propriété à hauteur de 50 % dans China Entreprise Communications (CEC) qui fournit une couverture VPN (Réseau Privé Virtuel) sur l'ensemble du territoire en Chine.

Desservant des clients depuis ses bureaux situés dans plus de 80 villes réparties dans 40 pays, Tata Communications est l'opérateur international de voix en gros numéro un au monde et le fournisseur de services internationaux, de données d'entreprises et d'Internet, numéro un en Inde. La société a été désignée << Meilleur opérateur de gros >> lors des World Communication Awards en 2006, << Meilleur fournisseur pan-asiatique en gros >> lors des Capacity Magazine Global Wholesale Telecommunications Awards, et a obtenu le titre de << Meilleure progression sur les marchés émergents >> lors des Mobile Communication Awards en 2008.

Tata Communications Limited, de même que ses filiales mondiales (Tata Communications), sont cotées à la Bourse de Bombay et à la Bourse de l'Inde et ses ADR (certificats américains d'actions étrangères) sont cotés à la Bourse de New-York. (NYSE : TCL)

Pour de plus amples informations sur les offres MSS de Tata Communications, consultez le site Web http://www.tatacommunications.com/enterprise/security/

À propos de Qualys

Qualys, Inc. est le principal fournisseur de solutions de gestion des risques pour la sécurité informatique et de conformité en mode à la demande. Les solutions à la demande de Qualys sont déployées dans le monde entier, offrant aux clients un aperçu immédiat et sans interruption du statut de leur sécurité informatique et de leur mise en conformité réglementaire. De nos jours, le service QualysGuard(R) est exploité par plus de 3 500 entreprises dans 85 pays, dont 35 listées dans Fortune Global 100. Il effectue plus de 200 millions d'audits IP par an. Qualys dispose du plus grand déploiement de gestion des vulnérabilités au monde en tant que membre de Fortune Global 50. Qualys a signé des accords stratégiques avec des fournisseurs leaders de services gérés et des sociétés en conseils, notamment BT, Etisalat, Fujitsu, IBM, I(TS)2, LAC, SecureWorks, Symantec, Tata Communications, TELUS et VeriSign. Pour obtenir de plus amples renseignements, veuillez consulter http://www.qualys.com.

http://www.qualys.com/products/qg_suite/vulnerability_management/ http://www.qualys.com/products/qg_suite/policy_compliance/ http://www.qualys.com/products/qg_suite/pci/ Contacts avec les médias : Abhishek Prakash, Tata Communications, +91-92232-07207, abhishek.prakash@tatacommunications.com ; Janice Goveas, Tata Communications, +91-92233-94575, janice.goveas@tatacommunications.com ; Media Agency, STC Associates, +1-212-725-1900 x204, kristen@stcassociates.com .

TATA COMMUNICATIONS LIMITED

Contacts avec les médias : Abhishek Prakash, Tata Communications, +91-92232-07207, abhishek.prakash@tatacommunications.com; Janice Goveas, Tata Communications, +91-92233-94575, janice.goveas@tatacommunications.com; Media Agency, STC Associates, +1-212-725-1900 x204, kristen@stcassociates.com

DPS Sporting Club Development Implements Customer Relationship Management With Assistance From Oracle

NEW YORK, November 5 /PRNewswire/ --

- DPS Leverages Oracle(R) Applications to Deliver Personalized Experiences to Clients

DPS Sporting Club Development, LLC, luxury developers of world-renowned residential sporting communities in historic locations nationwide and in the Caribbean, has chosen Oracle(r) CRM On Demand and Oracle Call Center On Demand to better personalize and manage client relationships.

Oracle's Customer Relationship Management services supports DPS Sporting Club Development in its quest to better personalize client relationships. Oracle shares DPS' vision for marketing support through workflow, built-in analytics and communication. Selecting Oracle will assist DPS in annual goals of increased sales and revenue; 360-degree holistic customer view; contact and campaign management; a fast ROI; better reporting of sales and marketing efforts; lead tracking and sales revenue forecasting; pipeline management; and reduction of manual processes.

"We are thrilled to be working with Oracle's CRM (Customer Relationship Management) platform as it enables DPS to leverage data on a far more personal level," says Robert Rippee, Chief Marketing Officer, DPS Sporting Club Development. "DPS Marketing is consistently at the leading edge in luxury real estate marketing, and in doing so, seeks the best possible partners to improve our one on one marketing strategy. After extensive evaluation, it was clear that Oracle is the industry leader and a perfect complement for DPS Sporting Club Development Company."

Oracle is set to extend professional capabilities to DPS through little to no in-house IT management; enhanced data integration and data integrity of customers; built-in analytics tools; abilities to integrate with open source; and capabilities of CRM applications to parse to other web-browser based products. The relationship with Oracle will allow DPS to record specifics with clients and increase target marketing aimed at the specific interests of prospects and current clients.

"Customer adoption speaks for itself - Oracle CRM On Demand delivers business value to companies around the world like DPS Sporting Club Development Company," said Anthony Lye, Oracle Senior Vice President of CRM. "With an ongoing commitment to deliver product innovations at a rapid pace, customers can continue to achieve business value over the long term."

ABOUT ORACLE

Oracle (Nasdaq: ORCL) is the world's largest enterprise software company. For more information about Oracle, please visit our Web site at http://www.oracle.com.

ABOUT DPS SPORTING CLUB DEVELOPMENT COMPANY, LLC

DPS Sporting Club Development Company, LLC, develops private, environmentally sensitive, single-family residential sporting communities on historic and unique properties, with a commitment to preserving the distinct character of each location. These clubs are managed by DPS Management Company, the exclusive service provider for the renowned Greenbrier Resort & Club Management Company, combining world class services, amenities and outdoor pursuits for all ages and skill levels. The award-winning DPS Sporting Club Collection includes The Greenbrier Sporting Club, White Sulphur Springs, W. Va.; Turks & Caicos Sporting Club at Ambergris Cay, British West Indies; The Ford Plantation, Savannah, Ga., and Deep Water Cay Club, The Bahamas. Life, Well Played!

Visit DPS Sporting Club Development, LLC at www.dpsdevelopment.com and www.lifewellplayed.com

Oracle is a registered trademark of Oracle Corporation and/or its affiliates.

DPS Sporting Club Development, LLC

Mimi Crume, Director of Communications, +1-646-291-8765, mcrume@dpsdevelopment.com

DPS Sporting Club Development Implements Customer Relationship Management With Assistance From OracleDPS Leverages Oracle(R) Applications to Deliver Personalized Experiences to Clients

NEW YORK, Nov. 5 /PRNewswire/ -- DPS Sporting Club Development, LLC, luxury developers of world-renowned residential sporting communities in historic locations nationwide and in the Caribbean, has chosen Oracle(r) CRM On Demand and Oracle Call Center On Demand to better personalize and manage client relationships.

Oracle's Customer Relationship Management services supports DPS Sporting Club Development in its quest to better personalize client relationships. Oracle shares DPS' vision for marketing support through workflow, built-in analytics and communication. Selecting Oracle will assist DPS in annual goals of increased sales and revenue; 360-degree holistic customer view; contact and campaign management; a fast ROI; better reporting of sales and marketing efforts; lead tracking and sales revenue forecasting; pipeline management; and reduction of manual processes.

"We are thrilled to be working with Oracle's CRM (Customer Relationship Management) platform as it enables DPS to leverage data on a far more personal level," says Robert Rippee, Chief Marketing Officer, DPS Sporting Club Development. "DPS Marketing is consistently at the leading edge in luxury real estate marketing, and in doing so, seeks the best possible partners to improve our one on one marketing strategy. After extensive evaluation, it was clear that Oracle is the industry leader and a perfect complement for DPS Sporting Club Development Company."

Oracle is set to extend professional capabilities to DPS through little to no in-house IT management; enhanced data integration and data integrity of customers; built-in analytics tools; abilities to integrate with open source; and capabilities of CRM applications to parse to other web-browser based products. The relationship with Oracle will allow DPS to record specifics with clients and increase target marketing aimed at the specific interests of prospects and current clients.

"Customer adoption speaks for itself - Oracle CRM On Demand delivers business value to companies around the world like DPS Sporting Club Development Company," said Anthony Lye, Oracle Senior Vice President of CRM. "With an ongoing commitment to deliver product innovations at a rapid pace, customers can continue to achieve business value over the long term."

ABOUT ORACLE

Oracle is the world's largest enterprise software company. For more information about Oracle, please visit our Web site at http://www.oracle.com/.

ABOUT DPS SPORTING CLUB DEVELOPMENT COMPANY, LLC

DPS Sporting Club Development Company, LLC, develops private, environmentally sensitive, single-family residential sporting communities on historic and unique properties, with a commitment to preserving the distinct character of each location. These clubs are managed by DPS Management Company, the exclusive service provider for the renowned Greenbrier Resort & Club Management Company, combining world class services, amenities and outdoor pursuits for all ages and skill levels. The award-winning DPS Sporting Club Collection includes The Greenbrier Sporting Club, White Sulphur Springs, W. Va.; Turks & Caicos Sporting Club at Ambergris Cay, British West Indies; The Ford Plantation, Savannah, Ga., and Deep Water Cay Club, The Bahamas. Life, Well Played!

Visit DPS Sporting Club Development, LLC at http://www.dpsdevelopment.com/ and http://www.lifewellplayed.com/

Oracle is a registered trademark of Oracle Corporation and/or its affiliates.

DPS Sporting Club Development, LLC

CONTACT: Mimi Crume, Director of Communications, +1-646-291-8765,
mcrume@dpsdevelopment.com

Web Site: http://www.dpsdevelopment.com/

CGI to release fourth quarter and fiscal year 2008 results on November 10 2008Stock Market Symbols GIB.A (TSX) GIB (NYSE)

MONTREAL, Nov. 5 /PRNewswire-FirstCall/ -- CGI Group Inc. (TSX: GIB.A; NYSE: GIB) will release results for its fourth quarter and fiscal 2008, ended September 30th, 2008 before the stock markets open on Monday, November 10, 2008. Management will host a conference call and question-and-answer session to discuss earnings that day at 9:00 a.m. (ET). Participants will include President and Chief Executive Officer Michael E. Roach as well as David Anderson, Executive Vice-President and Chief Financial Officer.

Who: CGI Group Inc. What: Fiscal Fourth Quarter and Fiscal Year 2008 Results When: Monday, November 10, 2008, at 9:00 a.m. (ET) Conference Call: 1-866-225-0198 Webcast: A live webcast of the quarterly results conference call may be accessed through the Company's website http://www.cgi.com/ where a replay will also be archived. Listeners should allow ample time to access the webcast. As well, reference slides will be available for download shortly before the beginning of the call. Podcast: An MP3 version will be available for download later in the day. RSS Feed: Subscribe via our site to receive the latest news releases and podcasts: http://www.cgi.com/web/en/media_room/rss_podcast_feeds.htm. About CGI

Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 27,000 professionals in over 100 offices across 16 countries. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in North America, Europe and India. CGI's annual revenue run rate stands at $3.8 billion and at June 30, 2008, CGI's order backlog was $12.03 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: http://www.cgi.com/.

CGI GROUP INC.

CONTACT: Colin Brown, Specialist, Communications and Investor Relations,
(514) 841-3634, colin.brown@cgi.com

DISH Network(R) and Community Broadcasters Association Partner on Digital Transition Outreach InitiativeCBA Endorses DISH Network's Converter Boxes

ENGLEWOOD, Colo., Nov. 5 /PRNewswire-FirstCall/ -- DISH Network Corporation , the digital transition leader, today announced a partnership with the Community Broadcasters Association (CBA) to help prepare consumers who watch TV via over-the-air signals -- including signals from low-power stations -- for the digital transition. The cornerstone of the partnership will involve promotion and sales of DISH Network's suite of digital-to-analog converter boxes to consumers in need, with a portion of the proceeds going to the CBA in support of its digital transition education efforts.

The digital transition mandates that all high-power TV stations switch their signal from analog to digital by Feb. 17, 2009. Low-power stations will not be required to make the switch until a later, undetermined date; however, consumers with analog TV sets who wish to continue watching both digital high-power stations and analog low-power stations must either subscribe to a pay-TV service or purchase a converter box that has analog pass-through. DISH Network's converter boxes -- the TR-40 CRA, DTVPal, DTVPal Plus and the DTVPal DVR, which is available in late November -- are some of only a few boxes on the market that include this unique feature, which allows a box to accept both analog and digital signals.

"DISH Network, a leader in the digital transition, is proud to partner with the CBA in this widespread effort to offer over-the-air consumers the tools and resources they need to continue enjoying their favorite channels following the switch," said Tom Stingley, executive vice president of Sales and Distribution for DISH Network. "DISH Network is the only pay-TV provider offering both 100 percent digital television packages in English, Spanish and international languages, AND some of the most sought-after converter boxes on the market today, and we look forward to working with the CBA to educate consumers on those solutions."

"The CBA is proud to provide a workable solution to assist over-the-air television in solving the severe problem created by the grossly inadequate supply of converter boxes with the essential analog pass-through feature," said Greg Herman, vice president of Technology for the CBA. "We are pleased to endorse DISH Network's top-rated line of converter boxes, which offer a substantially more intelligent and appropriate option for consumers and will help avoid the numerous problems created by the distribution of boxes that block analog signals."

All of DISH Network's converter boxes qualify for the National Telecommunications and Information Administration's TV Converter Box Coupon Program, with the exception of the DTVPal DVR; coupons may be ordered by visiting http://www.dtv2009.gov/. When the coupon is applied, the TR-40 CRA is free; DTVPal is $19.99; DTVPal(TM) Plus, which features an enhanced tuner for weak signal areas, costs $29.99*. A portion of all sales completed at http://www.mydtvpal.com/ will go to the CBA.

Additional components of DISH Network's converter boxes include an easy-to-follow setup wizard, an electronic program guide with up to seven days of program listings, parental controls, program search, auto tune timers for program recording on a connected VCR, closed caption support, a remote control, and signal strength screen pop-ups that can troubleshoot lost signals.

Consumers can also prepare for the digital transition by subscribing to pay television. DISH Network offers the best value in entertainment with the lowest all-digital price every day, along with unmatched technology and award-winning customer service that has surpassed major cable TV providers for the past eight years. The recently introduced DISH Network American and Latino Welcome Packs feature 20 popular channels for less than $10 per month. Or for as little as $19.99 per month (additional $5 for local channels), DISH Network customers can subscribe to the DishFAMILY package and receive over 40 popular channels, plus free installation and activation.

For more information about DISH Network, visit http://www.dishnetwork.com/ or call 1-800-333-DISH (3474). To learn more about DISH Network's converter boxes and to order, visit http://www.dtvpal.com/.

* Converter box prices do not include shipping or taxes About DISH Network Corporation

DISH Network Corporation , the nation's third largest pay-TV provider and the leader in digital television, provides approximately 13.79 million satellite TV customers as of June 30, 2008 with industry-leading customer satisfaction which has surpassed major cable TV providers for eight consecutive years. DISH Network also provides customers with award-winning HD and DVR technology including the ViP722(TM) HD DVR, which received the Editors' Choice awards from both CNET and PC Magazine. In addition, subscribers enjoy access to hundreds of video and audio channels, the most International channels in the U.S., industry-leading Interactive TV applications, Latino programming, and the best sports and movies in HD. DISH Network offers a variety of package and price options including the lowest all-digital price in America, the DishDVR Advantage Package, high-speed Internet service, and a free upgrade to the best HD DVR in the industry. DISH Network is included in the Nasdaq-100 Index (NDX) and is a Fortune 300 company. Visit http://www.dishnetwork.com/aboutus or call 1-800-333-DISH (3474) for more information.

About the Community Broadcasters Association

The Community Broadcasters Association (CBA) represents the nation's 2,900 Class A and Low Power Television (LPTV) stations and participates regularly in Commission proceedings to represent the interests of the LPTV industry. The CBA understands the great importance of being part of the historic digital transition in the United States, helping to take TV into the Digital Age and wants to provide its station member audiences the ability to not only watch shows in digital, but to give them the ability to continue watching the analog signals of TV stations that have not made the transition to digital operations or to be able to receive emergency information in a storm or natural disaster when other TV services are often temporarily unavailable. Every home in America needs a DTV converter box in the event of an emergency.

DISH Network Corporation

CONTACT: Francie Bauer of DISH Network Corp., +1-720-514-5351,
press@echostar.com; or Amy Brown of Community Broadcasters Association,
1-800-215-7655, amy@communitybroadcasters.com

Web site: http://www.dishnetwork.com/
http://www.mydtvpal.com/
http://www.dtv2009.gov/

AVIATION WEEK and F&E Present Middle East's First Aviation MRO EventMRO Middle East 2009 to be held January 21-22 in Dubai

NEW YORK, Nov. 5 /PRNewswire-FirstCall/ -- AVIATION WEEK, the largest multimedia information and services provider to the global aerospace and defense industries, and Fairs & Exhibitions (F&E) Aerospace, the world-class event company behind the Dubai Airshow, will host the first-ever Maintenance, Repair & Overhaul (MRO) Middle East Conference & Exhibition on January 21-22, 2009 at the Dubai Airport Expo Centre. MRO Middle East is the first conference of its kind in the region and will be held in Dubai, UAE, one of the fastest growing aviation hubs in the world.

HH Sheikh Ahmed Bin Saeed Al Maktoum, President, Dubai Civil Aviation Authority, and Chairman of Dubai Airports & Emirates Group, will keynote the event and has endorsed it, saying, "The development of a dedicated MRO event that addresses these issues and affords companies a forum to showcase their products and discuss the future with industry professionals is yet another feather in Dubai's cap. The Emirate has taken great strides to establish itself as the region's primary aerospace hub as well as being the networking venue for all concerned with this dynamic global industry."

MRO Middle East will bring together top airline and government officials, maintenance and safety experts from the region and around the world for management-level discussions on the theme "Connecting Industry Growth & Prosperity." During two days of intensive sessions and workshops, industry leaders will discuss the necessary next steps for the region, where air transport is a catalyst for growth, economic development, and job creation. In addition to HH Sheikh Ahmed, keynote presenters include Marwan Boodai, Chairman and CEO, Jazeera Airways; Andrew Cowen, CEO, Sama; and Steffen Harpoth, CEO, Silver Air. MRO Middle East will also host an exhibition hall with 100 MRO product and services suppliers, featuring the latest in service and technology.

"AVIATION WEEK has an audience of 1.2 million professionals in 185 countries, including the strongest presence in the Middle East of any aerospace media organization," said Tom Henricks, President, AVIATION WEEK. "By partnering with F&E to bring the inaugural MRO Middle East to Dubai next year, we are delighted to meet the accelerating needs of our customers in one of the world's fastest-growing aviation regions."

"Our knowledge, contacts and visibility in the region form a perfect compliment to AVIATION WEEK's experience with the worldwide aviation media," said Alison Weller, Director Aerospace, F&E. The Dubai Airshow was launched by F&E in 1986 and now attracts over 45,000 visitors and 1,000 exhibitors.

Additional information and online registration for MRO Middle East are available at http://www.aviationweek.com/conferences/mmemain.htm or by calling +1-212-904-4682 or +971-4-286-7755. Register by December 2 for a discount. Special rates apply for MRO providers, UAE nationals, government, military, airlines, partners, sponsors, media, and groups of three or more.

MRO Middle East is produced by AVIATION WEEK Conferences & Exhibitions and F&E Aerospace, in association with Overhaul & Maintenance. The platinum sponsor is Dubai World Central Aviation City. The gold sponsor is Goodrich. The silver sponsors are Europe Aviation, Lufthansa Technik, Messier Services, and SR Technics. It is supported by Arab Air Carriers Organization. Emirates is the official airline. Aviation Week & Space Technology and Outsourcing2India are the media sponsors.

About AVIATION WEEK

AVIATION WEEK, a division of The McGraw-Hill Companies, is the largest multimedia information and services provider to the global aviation, aerospace and defense industries, and includes the publications Aviation Week & Space Technology, Defense Technology International, Business & Commercial Aviation, Overhaul & Maintenance, ShowNews, Aviation Daily, The Weekly of Business Aviation, Aerospace Daily & Defense Report and the World Aerospace Database. The group's website, http://aviationweek.com/ , offers the industry's most reliable news, information, search and online community tools. Premium content services include the Aviation Week Intelligence Network, MRO Prospector, and the new Top-Performing Companies Benchmarking Tool. The group also produces prominent conferences, exhibitions and management forums around the world.

About The McGraw-Hill Companies

Founded in 1888, The McGraw-Hill Companies is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands including Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2007 were $6.8 billion. Additional information is available at http://www.mcgraw-hill.com/ .

About F&E Aerospace

F&E Aerospace is a division of Fairs & Exhibitions who are one of the most influential names in the aerospace industry's events sector having conceptualized the Dubai Airshow and organized it, in conjunction with the Department of Civil Aviation, Government of Dubai and in collaboration with the UAE Armed Forces, since its inception in 1989. F&E Aerospace, which maintains offices in London and Dubai, has widespread and long-standing relationships with the global aerospace industry, an in-depth knowledge of the industry it serves and a hard-earned reputation for delivering event excellence. The company also organizes the Middle East Business Aviation (MEBA) conference and exhibition on behalf of the Middle East Business Aviation Association. MEBA is now a biennial event with the 2008 edition scheduled for November next year. Aircraft Interiors Middle East (AIME) is a new event emerging from F&E's dedicated Aerospace Division. It was held for the first time at the Dubai World Trade Centre in June 2008 and will service the region's rapidly developing commercial and business aviation fleets going forward.

AVIATION WEEK

CONTACT: Media Contacts:
Lisa Jaycox, AVIATION WEEK
+1-212-512-3272
lisa_jaycox@mcgraw-hill.com
Sam Dulka, F&E/MCS Action FZ LLC
+971 4 3902960
sam.d@actionprgroup.com

Web site: http://aviationweek.com/
http://www.aviationweek.com/conferences/mmemain.htm
http://www.mcgraw-hill.com/
http://www.dwtc.com/dwtcgroup/venuemanagement/airportexpo_en_gb.aspx

Stream Global Services, Inc. Announces Key New Executives

BOSTON, Nov. 5 /PRNewswire-FirstCall/ -- Stream Global Services, Inc. , today announced two additions to its executive team. Stephen Farrell joins the company as executive vice president and chief financial officer; while Bruce Dawson comes aboard as senior vice president of business development.

"For a growing, innovative company like ours, the business knowledge and leadership qualities of its executives are critical to success," said Chairman and CEO R. Scott Murray. "I believe we have in place one of the most dynamic executive teams in the industry. I am confident Stephen and Bruce will add to its strength, further driving organizational goals in finance, operations and client relationships."

As chief financial officer, Farrell will be primarily responsible for the financial leadership of Stream, and will oversee the company's finance, accounting, treasury, taxation and corporate services functions. Farrell, who will work out of the company's Boston headquarters and report to Murray, will also play an important role in shaping corporate strategy, driving alignment across the organization and achieving success in the company's strategic growth initiatives.

Prior to joining Stream, Farrell served as president of PolyMedica Corporation. During his eight-year tenure with PolyMedica, Farrell held various executive positions including chief operating officer, CFO and chief compliance officer. He has also worked in senior management for PricewaterhouseCoopers.

An active member of Questcor Pharmaceuticals' board of directors, Farrell holds an undergraduate degree from Harvard University, MBA from the University of Virginia, and is a certified public accountant.

"Stephen's financial acumen and diverse background make him the ideal candidate for this role. His expertise should serve to further enhance Stream's ability to deliver financial results to our shareholders and within the organization while also reinforcing the results-driven relationship between finance and operations," added Murray.

Dawson, as senior vice president of business development, will oversee strategic activities related to organic business growth, client diversification and client relationship management. Along with the global business development organization, which will report directly to him, Dawson will be actively involved in identifying new opportunities and additional service solution offerings for Stream's existing client base.

"Bruce comes to Stream Global Services with a phenomenal background in client relationship management and business revenue growth," said Executive Vice President, Global Sales and Marketing Robert Dechant. "With his experience and outstanding leadership skills, Bruce's arrival strengthens an already talented business development team; and I expect he will greatly enhance the breadth and depth of our current client relationships."

Dawson joins the company with more than 20 years senior business development and sales leadership experience. He spent much of this time in the global outsourcing space, with companies such as TeleTech Holdings, MATRIXX Marketing (now part of Convergys) and Stream International. He has also served in various senior sales roles with AT&T/Avaya. Based in Denver, Dawson will report to Dechant.

For more information contact: Kieran Brennan Vice President, Marketing 469-624-5030 kieran.brennan@stream.com About Stream Global Services, Inc. (Stream)

Stream Global Services, Inc. ("Stream") is a leading provider of integrated business process outsourcing services such as Web and data hosting, technical support, customer retention and recovery services, warranty support, customer care and other professional services for Fortune 1000 clients in the technology, software, computing, consumer electronics, media and communications sectors. Stream has more than 17,000 technical experts and other employees across 32 service solution centers in 18 countries.

Stream Global Services, Inc.

CONTACT: Kieran Brennan, Vice President, Marketing of Stream Global
Services, Inc., +1-469-624-5030, kieran.brennan@stream.com

Web site: http://www.stream.com/

Dalrada Financial Corp. CEO Brian Bonar Discusses Advance Pay Day Cards, Pre-Paid Insurance Services and Identity Theft Protection With CEORoadshow.com in Exclusive Online Audio Interview

NEW YORK, Nov. 5 /PRNewswire-FirstCall/ -- Dalrada Financial Corp. (Pink Sheets: DFCO) today announced that the Company is presently featured in an online audio interview at http://www.ceoroadshow.com/. Mr. Brian Bonar, CEO for Dalrada Financial Corp., discusses the company's prepaid payroll debit cards, new insurance division and identity theft protection services in the exclusive online interview. Mr. Bonar also discusses the short-term strategy for growth of Dalrada Financial.

The exclusive interview may be viewed and heard by clicking on the following link:

http://www.ceoroadshow.com/viewer.asp?VideoID=14 About Dalrada Financial Corp.

Dalrada Financial Corp. (DFCO.PK) is a financial services company that provides employer business solutions to small and medium size companies. Services include staffing, human resource administration, payroll processing, workers compensation insurance, business liability insurance, health insurance, employee benefits, 401(k) plans, deferred compensation and its' newly announced identity theft protection program.

About CEORoadshow.com

http://www.ceoroadshow.com/ a unique multimedia platform and website powered by Interactive Entertainment Group Inc. for the financial industry, presents detailed interviews with CEOs, company CFOs and analysts, which provides publicly traded companies with production services and distribution of their corporate messages in streaming video/audio format. Your corporate message is delivered firsthand to all major newswires, institutional and private investors, venture capitalists and buy and sell analysts, all at the click of a mouse. Using our state of the art webcasting services, CEORoadshow.com can feature and host CEO interviews, business updates, earning conference calls, analyst presentations, product launches and other special announcements directly to your audience's desktop, at minimal cost compared to video or telephone conferencing. CEORoadshow.com will provide public companies with the means and ability to reach far into the investment community with a direct message to shareholders and potential investors, through our streaming media technology, active databases of institutional and individual investors, analysts, brokerage firms and large affiliate network while providing the most impact for the communications dollar. Additional interviews which may be found at CEORoadshow.com include Medivisor Inc., Freedom Financial Holdings Inc. among additional companies.

Safe Harbor Statement

Statements contained herein, other than historical data, may constitute forward-looking statements. When used in this document, the words "estimate," "project," "intends," "expects," "believes" and similar expressions are intended to identify forward-looking statements regarding events and financial trends, which may affect the Company's future operating results and financial position. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those included within the forward-looking statements. A complete disclosure of all fees paid to CEORoadshow.com is available on the Company's disclaimer page as required by Section 17B of the SEC. The Private Securities Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in written statements to be made) contain statements that are forward-looking, such as those relating to consummation of the transaction, anticipated future revenue of the Company's and success of current public offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements.

Dalrada Financial Corp.

CONTACT: Dalrada Financial Corp., +1-858-427-8716, fax, +1-858-277-3448,
inquiries@dalrada.com

Web site: http://www.ceoroadshow.com/

Update: Elephant Talk Announces Implementation of Two Key Contracts

SCHIPHOL, Netherlands, Nov. 5 /PRNewswire-FirstCall/ -- Elephant Talk Communications, Inc. (BULLETIN BOARD: ETAK) , announced that its first Mobile Virtual Network Enabler (MVNE) platform using the antenna network of T-Mobile became operational in the Netherlands in September 2008. A second platform is expected to become operational in Spain in January 2009. Management expects that a definitive contract will be executed in the near future, pursuant to a Heads of Agreement (the "Agreement") recently signed with one of the main Mobile Network Operators. Further information with respect to the Agreement is set forth in a Form 8-K filed with the Securities and Exchange Commission on September 24, 2008.

"We believe this is just the beginning, and we are very satisfied with our progress," said Steven van der Velden, Elephant Talk's CEO. "We believe we can now implement our business plan to accelerate revenues and work toward our objective to achieve profitability by the third quarter 2009. This relationship should enable ETAK to put its B-2-B clients, like the various Mobile Virtual Network Operators (MVNOs), in a position to operate as full (virtual) telecom suppliers offering combined fixed and mobile services." He continued: "In addition, the wireless telecom sector has been exhibiting strong growth, and we believe this will further assist us in working toward our objectives."

"Elephant Talk is one of the first companies to integrate the necessary networks and IT technologies to offer MVNOs the means for Convergent, Personalized, Media, Location-based and Branded Services, by combining a mix of customer-focused packages that include networks, CRM, Billing and our IN system through our Full MVNE setup," said Martin Zuurbier, CTO/COO of Elephant Talk.

Elephant Talk's executive team is scheduled to make a corporate presentation at the upcoming 2008 RedChip Investment Conference, Nov. 5th, 10 a.m. at the Harvard Club of New York.

About Elephant Talk Communications

Elephant Talk Communications is positioning itself as an international telecom operator and enabler/systems integrator to the multimedia industry by facilitating the distribution of all forms of content, as well as mobile and fixed-telecom services, to global telecommunications consumers. The Company provides traditional telecom services, media streaming, and distribution services primarily to the business-to-business (B2B) community within the telecommunications market. Elephant Talk is also a systems integrator and developer for mobile telecom and content distribution solutions; and, as a Mobile Virtual Network Enabler (MVNE), the Company has positioned itself as the premier outsourcing partner for both Mobile Network Operators (MNOs) as well as for Mobile Virtual Network Operators (MVNOs). Elephant Talk is positioning itself as the preferred MVNE partner of the larger, global Mobile Operators and currently operates sophisticated networks in over a dozen markets in Europe, Asia Pacific and the Middle East. The Company was ranked fifth on the Orange County 2008 Deloitte Technology Fast 50, which ranks companies by percentage revenue growth over five years.

Forward-Looking Statements

Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here; however, readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.

Contact: At the Company: Steven van der Velden + 31 20 653 59 16 info@elephanttalk.com http://www.elephanttalk.com/ Investor Relations: RedChip Companies Inc. Jon Cunningham 1-800-REDCHIP (733-2447), Ext. 107 info@redchip.com http://www.redchip.com/

Elephant Talk Communications, Inc.

CONTACT: Steven van der Velden, +31-20-653-59-16, info@elephanttalk.com;
or Investor Relations, Jon Cunningham of RedChip Companies Inc.,
+1-800-REDCHIP, (733-2447), Ext. 107, info@redchip.com

Web Site: http://elephanttalk.com/

PR Newswire Brings Immensely Popular 'PR Newswire Presents: MEDIA3' Seminar to Portland, OR

PORTLAND, Ore., Nov. 5 /PRNewswire/ -- PR Newswire's Director of Emerging Media Michael Pranikoff will present 'PR Newswire Presents: MEDIA3' -- an interactive discussion on the how Web 2.0 can bring an organization's communications program to the next level, on November 12 at the Architectural Heritage Center in Portland, OR.

(Logo: http://www.newscom.com/cgi-bin/prnh/20000306/PRNLOGO ) About 'PR Newswire Presents: MEDIA3

The face of PR is changing as the tools of PR evolve. In order to stay ahead of the innovations, communications professionals need to know how to use new media techniques and also stay apprised of what the next big thing will be.

PR Newswire's Director of Emerging Media Michael Pranikoff will lead an interactive discussion on how communicators can utilize the new technology that is driving emerging media. He will provide a real world case study utilizing those tools and give communications professionals the information they need to incorporate those tools into their program. This program is both for the novice and those that have been working in social media for a few years.

Some of the topics that will be covered include: -- Social Media optimization -- PR and social networks -- Using online multimedia: photos, videos and more -- Going mobile About the Presenter:

Michael Pranikoff, PR Newswire, Director, Emerging Media, is responsible for educating communications professionals about the role emerging media, such as RSS, blogs, social networks, search engines, and other Web 2.0 technologies, play in public relations. Mr. Pranikoff has been traveling the world presenting PR Newswire's popular "PR in a Web 2.0 World" seminar series.

Date: Wednesday, November 12, 2008 Place: Architectural Heritage Center 701 SE Grand Avenue Portland, OR 97214 Time: Breakfast and Registration: 8:00 AM - 8:30 AM Presentation: 8:30 AM - 10:00 AM Continental breakfast will be served. Cost: Complimentary To register: http://tinyurl.com/6rl4ro For additional information, call 866-290-9691, or e-mail david.korvah@prnewswire.com. About PR Newswire

PR Newswire Association LLC (http://www.prnewswire.com/) provides electronic distribution, targeting, measurement and broadcast services on behalf of tens of thousands of corporate, government, association, labor, non-profit, and other customers worldwide. Using PR Newswire, these organizations reach a variety of critical audiences including the news media, the investment community, government decision-makers, and the general public with their up-to-the-minute, full-text news developments.

Established in 1954, PR Newswire has offices in 14 countries and routinely sends its customers' announcements to outlets in more than 170 countries and in more than 40 languages. Utilizing the latest in communications technology, PR Newswire content is considered a mainstay among news reporters, investors and individuals who seek breaking announcements from the source. PR Newswire's leading services include ProfNet(SM), eWatch(TM), MEDIAtlas(TM), Search Engine Optimization, MediaRoom, MediaSense(TM), MultiVu(TM), U.S. Newswire, the preeminent policy newswire in the industry, Vintage Filings, the fastest growing Edgar filing company, and Hispanic PR Wire, LatinClips and Hispanic Digital Network, the foremost Hispanic communications services. PR Newswire is a subsidiary of United Business Media Limited, a leading global business media company that serves professional commercial communities around the world. For more information, go to http://www.unitedbusinessmedia.com/.

About United Business Media Limited (http://www.unitedbusinessmedia.com/)

United Business Media Limited (UBM) is a global media and marketing services company that informs markets and brings the world's buyers and sellers together at events, online, in print, and with the information they need to do business successfully. UBM serves professional and commercial communities, from IT professionals to doctors, from journalists to jewelry dealers, from farmers to pharmacists around the world. UBM employs more than 6,500 people in more than 30 countries. UBM's businesses operating in the US include CMPMedica, Commonwealth Business Media, Everything Channel, PR Newswire, RISI, TechInsights, TechWeb and Think Services. UBM is listed on the London Stock Exchange (UBM.L) and has a market capitalization of $2.5 billion.

Photo: http://www.newscom.com/cgi-bin/prnh/20000306/PRNLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com PR Newswire Association LLC

CONTACT: David Korvah, PR Newswire, +1-866-290-9691, or
david.korvah@prnewswire.com

Web Site: http://tinyurl.com/6rl4ro
http://www.prnewswire.com/
http://www.unitedbusinessmedia.com/

Company News On-Call: http://www.prnewswire.com/comp/146750.html

/K I L L K I L L K I L L - Elephant Talk Communications, Inc./

We are advised by Elephant Talk Communications, Inc. that journalists and other readers should disregard the news release, Elephant Talk Announces Implementation of Two Key Contracts, issued earlier today over PR Newswire as it contained erroneous information. A complete, corrected release will be distributed shortly.

Elephant Talk Communications, Inc.

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